KIEV, April 3 – The further weakening of the hyrvnia would improve the country's balance of payments, strengthen the positions of Ukrainian exporters and allow the resumption of economic growth in Ukraine in Q4, according to Oleksandr Omelchuk, director general of Phoenix Capital investment company.

"According to the optimistic scenario, economic growth could start in Q4, 2009, so 2010 would be a year of growth. The scenario is possible if the [hryvnia] devaluation continues at least to a level that balances the deficit in the balance of payments. Devaluation would allow Ukrainian producers to boost exports and would cut imports through the fall in its volumes in kind," he told Interfax-Ukraine.