2024-09-13T17:57:00+03:00 Finance 2024-09-21T04:00:02+03:00

Ukrainian news

NBU will try to avoid direct financing of budget expenditures

NBU will try to avoid direct financing of budget expenditures

The National Bank will maintain its independence, seek to avoid direct financing of budget expenditures and fiscal dominance.

The head of the NBU, Andrii Pyshnyi, announced this on Facebook, the Ukrainian News agency reports.

According to him, the NBU Board has updated the Basic Principles of Monetary Policy.

It used to happen every year on an ongoing basis.

Since the beginning of the full-scale invasion, this document has been updated less often - when it is necessary to maintain consistency and increase the clarity of the NBU's monetary policy.

"The National Bank of Ukraine will maintain its independence, will strive to avoid direct financing of budget expenditures and fiscal dominance," wrote Andrii Pyshnyi.

The previous principles were the basis of the NBU's decisions, which contributed to the preservation of macro-financial stability and the transition from a "survival strategy" to a "development" strategy.

The main principles were developed on the basis of proposals of the NBU Board together with the involvement of specialized departments.

In fact, they have collected a comprehensive vision of the goals and objectives of the NBU's monetary policy.

As the Ukrainian News agency earlier reported, the Basic Principles of Monetary Policy is a document that defines the goals, objectives and principles of the monetary policy of the National Bank.

The term of validity of the approved principles is for the duration of a full-scale war and a certain period of post-war reconstruction.

Prime Minister Denys Shmyhal said that there is no need to make a tragedy out of moderate emission during the war.