NBU has "printed" over 90 billion hryvnias - media

24 November 2014 11:56  2985496 086421
NBU has "printed" over 90 billion hryvnias - media

Over the past few months, according to the NGO "The Price of the State," the National Bank has "printed" over 90 billion hryvnias, and each next billion of uncovered issue is pushing the national currency to the brink.

This is stated by Yulia Samayeva in the article "At the budget abyss" for the ZN.UA.

As noted in the article, most experts predict that the budget deficit by the end of 2014 will exceed the figure agreed with the IMF (63 billion hryvnia) by at least 20-30 billion hryvnia.

At the same time, economist Oleksiy Moldovan says, if the budget crisis continues, and measures to reduce the deficit of state finances are not be taken, Ukraine will lose its economic sovereignty.

"We are left without investors, the capital will continue to decline, and the population - to become poorer" - he said.

In addition, as stated in that article, situational and half-hearted measures to resolve the crisis, that have been taken to date, only enhance it.

"Instead of rational cost reduction, anti-corruption campaign and deregulation of business, the government follows the path of its predecessors," - the article says.

As previously reported, the financial markets have almost written Ukraine off. Ukrainian economy is on the verge of crisis of solvency.

The country fell into a vicious circle of declining national currency and high growth of inflation.

Tags: NBU, money

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