Currency devaluation as a factor for economic growth in Ukraine

Currency devaluation as a factor for economic growth in Ukraine

According to a popular belief, the important factor contributing to economic growth is higher demand for produced goods and offered services. In such a manner, increase in services and goods demand acts as a catalyst for manufacturing much larger volumes of goods and services in the country. It is a very logical thinking that those who offer favorable pricing for the same high-quality goods are more likely to sell them. Nowadays, currency devaluation in Ukraine can be regarded as a chance to increase exports of Ukrainian products to foreign markets due to possibility of offering cheaper prices.

Moreover, when approached smartly, Ukrainian currency devaluation may serve as an opportunity for foreign investments attraction. Taking into account that working power has become significantly less expensive, it is much more profitable for foreign investors to hire Ukrainians and establish various factories and plants in Ukraine. Many Ukrainians possess high levels of qualification and necessary experience, especially in the spheres of medicine, IT, engineering, aviation and other professions requiring technical expertise, which makes Ukrainians extremely valuable employees.

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