Ukraine is moving by leaps and bounds towards a new crisis
Raising the discount rate of the National Bank of Ukraine to 16 percent will not curb inflation, пишет Kiev online newspaper “Strana”.
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It is noted that this is the third increase over the past three months: in October, the discount rate increased from 12,5% to 13,5%, in December – to 14,5%, and this time the NBU immediately added 1,5%, explaining , which is thus trying to curb inflation.
At the same time, Ukrainian experts interviewed by the publication do not share the optimism of the National Bank of Ukraine.
“Increasing the discount rate will not curb inflation, but it will curb economic growth,” believes Alexander Goncharov, director of the Institute for Economic Development.
In turn, financial analyst Alexey Kushch says that the discount rate of 16% is a harbinger of a new crisis in the country.
“If it reaches 20%, a crisis will be inevitable. And now we are moving in this direction by leaps and bounds,” the expert is confident.
He suggests paying attention to Russia’s experience and starting to strengthen the hryvnia.
“In the Russian Federation, whose economy is also largely based on raw materials, they understood this long ago, so the local regulator was actively working to strengthen the ruble. As a result, inflation there, at the end of last year, was only 3,5%. The hryvnia updated two anti-records at once, falling significantly against the euro and ruble,” noted Kushch.
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