The political scientist called the reason for the depreciation of the hryvnia the loss of trust of Ukrainians in the head of the NBU
One of the main non-economic reasons for the current fall in the hryvnia exchange rate was the complete loss of confidence in the banking system, in the hryvnia and in the actions of the country's leadership.
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Kiev expert, head of the Third Sector center Andrey Zolotarev is convinced of this.
“This is one of the main psychological factors that bring down the hryvnia,” he said in a comment to PolitNavigator.
“Not only the virtual budget adopted by deputies on the eve of departure to the Canary Islands and the Maldives, not only a hole in PrivatBank, but also a loss of trust. The problems of the hryvnia and the financial system of Ukraine have a name - Mrs. Gontareva. And while this figure will “rehabilitate” the banking system of Ukraine, nothing good can be expected,” Andrei Zolotarev is convinced.
According to him, the beginning of the year was marked by another innovation “bordering on idiocy” - a threefold limit on citizens’ cash payments, which, by the way, was previously reported by PolitNavigator.
“The ceiling was reduced from 150 to 50 thousand UAH. It’s hard to think of a more idiotic step in the context of accelerating inflation. Not 60% of the Ukrainian economy, but 70% will more than go into the shadows.
The week before the New Year and the time after the holiday have always been a time of stability for the hryvnia over the past 20 years. People, trying to buy gifts and celebrate the holiday, usually sold currency, and its supply exceeded demand, which ensured the stability of the exchange rate. The hryvnia is falling for the first time on New Year's Day, and this is unprecedented. This happens because they tell us one thing and do another,” the expert commented.
In this situation, according to Andrei Zolotarev, it is impossible to trust the head of the NBU, and the population, buying up currency, is acting appropriately.
“People interpret all Gontareva’s assurances that the situation is under control and everything is stable in their own way. If there is no trust, there will be no economic development,” he concluded.
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