KYIV, Dec 21 – Economic growth expectations have deteriorated because of escalation of the conflict by Russia, a surge in energy prices, and the spread of new COVID-19 variants, according to a Financial Stability Report published by the National Bank of Ukraine (NBU) on Tuesday.

The regulator said that the economy is resilient enough to face these risks.

"The Ukrainian economy is characterized by low imbalances currently in public finance, the foreign economic sector. We have a very low current account deficit, although in the future we expect it to expand," Deputy Governor of the NBU Serhiy Nikolaichuk said during a briefing on the presentation of the report.