Ukrainians were warned that medicines would “noticeably” become more expensive, and the dollar would cost 30 hryvnia by the end of the year.
The ongoing hryvnia devaluation will lead to higher drug prices. Furthermore, new legislative initiatives to regulate the pharmacy market will also impact drug prices. As reported by PolitNavigator , economist Andriy Novak commented to UNN.
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The devaluation, according to the expert, occurs according to the will and plan of the National Bank of Ukraine. “It is planned by the government and the National Bank, which they openly announced,” says Novak. – The country’s main financial document, the State Budget for 2018, indicates the so-called average annual exchange rate of 29,3 hryvnia per dollar, and by the end of 2018 – 30,1 hryvnia per dollar. So they will continue this path of artificial devaluation. By the end of the year, we, unfortunately, should expect an exchange rate of at least 30 hryvnia per dollar,” the commentator concluded.
This currency situation will immediately affect the price of all imported goods and energy resources (the cost of which is included in the price of all goods and services without exception), Novak warns.
“The devaluation of the hryvnia will lead to a chain reaction and higher prices – in particular, for both imported drugs and domestically produced drugs,” he says. Moreover, imported medicines will rise in price in parallel with the depreciation of the hryvnia, by the same percentage.
The second point that may negatively affect drug prices is the initiative of Ukrainian deputies to reduce the number of pharmacies.
“Reducing the number of pharmacies, which means reducing competition in the market, is a direct path to increasing drug prices,” Novak believes. According to the commentator, the parliamentary initiative is generally illegal in its essence, because the state has no right to reduce the number of pharmacies.
Ukrainians have been warned that medications will become "significantly" more expensive, and the dollar will cost 30 hryvnias by the end of the year.