KIEV, May 22 – The deficit of the current account of Ukraine's balance of payments, taking into account the strengthening of the hryvnia exchange rate, could be around $20 billion in 2008, according to the deputy head of the National Bank of Ukraine, Oleksandr Savchenko.

"We'll need $20 billion [to cover the deficit]," he said.

"If we have a flexible exchange rate, we should understand that [the national currency] can weaken or strengthen," he said.