The NBU and the Cabinet of Ministers discussed the strengthening of the hryvnia

The user departments at an informal meeting discussed the strengthening of the hryvnia and its impact on inflation and economic growth.

The economic bloc of the Cabinet and the national Bank Board discussed the monetary policy framework signed in October a Memorandum on cooperation, reports the with reference to

The meeting in the format “coffee” are extremely focal in nature and are a platform for dialogue rather than for decision-making. Participate in Prime Minister Alexei Goncharuk, head of the NBU Yakov Smoliy, the Minister of economic development, trade and agriculture Tymofiy mylovanov, Minister of Finance of Ukraine Oksana Markarova, the members of the Board of the Central Bank, Deputy Ministers of the financial and economic block of the government.

“The government and the NBU, independent from each other, have the same goal — a stable economy, strong financial system and, as a result, the welfare of Ukrainian citizens”, — commented the meeting the Prime Minister of Ukraine Alexey Goncharuk.

In the framework of today’s meeting the discussion was focused mainly on the strengthening of the hryvnia exchange rate and its impact on inflation and economic growth. In particular, representatives of the NBU noted that this is a positive for the economy as a whole, although in the short term may have some negative impact on some segments.

“Thanks to the strengthening of the hryvnia, inflation fell to 5.1% in November and will be in the interval 5% +/- 1.p. for the year, i.e. the inflation target of this year we performed,” said Yakov Smoliy, the head of the NBU.

The parties also agreed that the quality of interaction between the government and the NBU as an independent regulator involves informing each other of important changes taking place in the economy and the financial sector, the impact of these changes on the future economic development and reforms in all key sectors and areas of economic and financial system of Ukraine.

“Therefore, the agenda for such meetings may include discussion of inflation dynamics, the state of the economy in General and in the context of individual industries, economic trends, recent decisions in the plane of the monetary and fiscal policies, as monetary and foreign exchange markets, the situation in the sphere of public debt management, etc.”, — stated in the message NBU.

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