Transition to Euro: Why Ukraine Will Not Abandon Hryvnia by 2030

Transition to Euro: Why Ukraine Will Not Abandon Hryvnia by 2030

Ukraine is ready to consider the possibility of transitioning to euro, but only under the condition of having the appropriate economic conditions and agreement with the European Central Bank. First Deputy Governor of the National Bank Serhiy Nikolaychuk emphasized that this transition will not happen until 2030.

Serhiy Nikolaychuk noted that at the first stage, the transition to euro is impossible. He also added:

“At the first stage - no. But we will take on the obligation to switch to euro when the appropriate conditions are in place.”

This comment indicates that Ukraine is opening up opportunities for future transformation of the currency system, yet readiness for this process depends on the stability of the economy and other factors.

Relevance of Transitioning to Euro

According to Nikolaychuk, the issue of transitioning to euro is not relevant in the near term.

“This is definitely not a matter for the coming years,”

he noted, emphasizing that until 2030, the hryvnia will remain the main currency in Ukraine. Thus, the transition to euro remains on the agenda, but the timelines for its realization seem distant.

It is important to note that transitioning to euro may have significant consequences for the Ukrainian economy, particularly in terms of investment attractiveness and financial system stability. As the country continues to integrate into European structures, the issue of adapting the currency system remains relevant, yet the prerequisites for such a step require careful analysis and preparation. In this regard, the current policy keeps the hryvnia as the main currency, which can ensure greater economic stability in the short term.