L’Ukraine s’accroche au dollar

KIEV – L’inflation s’emballe en Ukraine. En mars, elle atteignait 26 % par an et ne cesse de grimper. Même si le coût de la vie augmente partout dans le monde, l’inflation ukrainienne atteint des sommets – elle est deux fois plus élevée que chez sa voisine, la Russie. Le plus surprenant, c’est qu’au lieu de freiner l’inflation, la Banque centrale ukrainienne l’alimente.

Les prix ont commencé a échappé à tout contrôle lorsque Ioulia Tymoshenko a été renommée Premier Ministre en décembre dernier. Des observateurs malveillants ont laissé entendre qu’elle était à l’origine de dépenses sociales populistes – ce qui est faux. En fait, son gouvernement a resserré le budget juste avant le nouvel an. Selon Viktor Pynzenyk, Ministre des Finances, l’État avait un excédent budgétaire de 0,6 % du PIB au premier trimestre 2008.

Cette situation n’est pas surprenante car les recettes publiques augmentent avec la hausse du coût de la vie, tandis que les dépenses sont généralement fixes. En réalité, le gouvernement de Ioulia Tymoshenko a fait du bon travail sur le plan budgétaire. Dans l’ensemble, les finances publiques se portent bien, avec une dette publique représentant 11 % du PIB. D’après la Banque nationale d’Ukraine, les réserves internationales ont une croissance constante et s’élèvent désormais à 33 milliards de dollars.

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