The National Bank has killed lending to Ukrainian enterprises
The actions of the National Bank of Ukraine have deprived enterprises of the opportunity to receive loans, while profits in 2021 will be low due to rising energy prices.
This was announced on air by the UKRLIFE.TV channel. Director of the Institute of Applied Systems and Technologies, economist Daniil Monin, reports a PolitNavigator correspondent.
“As for the lack of money, unfortunately, the National Bank has practically killed lending in the bud. And this actually happened before the crisis. Our portfolio of active loans there is probably only 10 percent of GDP, when in any country it can be 80-100 percent of GDP. Even in 2013, it amounted to 80 percent of GDP.
Formally, we have something like 25%, but we have a lot, almost half of the banks’ portfolio are loans that are simply not repaid. That is, they are frozen, dead, and the like. And this situation, when there is no money in the economy, leads to negative wishes.
What exactly will be the problem of 2021 as such? In fact, our only source of economic growth is the profit of enterprises. But it is low, it is squeezed, on the one hand, by the fact that the state, through its actions, for example, raises the minimum wage.
Our commodity prices will rise. We are already seeing oil at $56. Accordingly, we will have additional costs for energy resources. In fact, last year was more or less good in the sense that energy resources fell very significantly, and, for example, food prices remained at approximately a good level. This made it possible to still maintain profitability in the economy, in certain sectors,” Monin said.
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