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New Macroeconomic Priorities of Ukraine Named

Monday, 18 April 2016 17:45

The list includes the moratorium for administrative increase of prices and rates and support of import substitution, UBR reports.

The macroeconomic priorities of government should become the export-oriented production of commodities with high added value, stabilization of exchange rate, stimulation of economic growth through operation of state banks, moratorium for administrative increase of rates, decrease of sovereign bonds ratio within NBU portfolio, as consider the authors of the strategy “Overcoming crisis, stability of national currency and banking system”, which is currently developed in special-purpose committee of the Verkhovna Rada.

The specification of methods for achieving all these goals is given on 85 pages. And the final stage of realization of the document should become the adoption of concrete laws. “Today, draft laws are more aimed at solution of current urgent issues, without clear vision of general strategic aim in future. We plan to develop the package of draft laws, which will allow to implement the financial strategy”, Serhei Rybalka noted.

Rybalka named the following macroeconomic priorities:

  1. Development of “Strategy of High Technology Industrialization of Ukraine and Development of Export Oriented Production of Commodities with High Added Value and Stimulation of Import Substitution” and determination of priorities for the banking lending of economy.
  2. Promotion of stabilization of the exchange rate as the anchor for decreasing inflation, for what it is necessary:
    • To create the Coordination Board between government and NBU for solving key issues on stabilization of the exchange rate and decreasing inflation
    • To support production, aimed at import substitution and saturation of internal market with competitive commodities of domestic manufacture for equilibration of the balance of payments, stabilization of the exchange rate and decrease of inflation.
    • To implement systems of stimulation for development of high technology export and increasing motivation of exporters for bringing currency proceeds to the country and stabilization of currency market.
    • To limit the volume of repurchasing sovereign bonds by the National Bank, to gradually decrease their share in NBU portfolio.
  3. The imposition of moratorium for administrative increase of prices and rates, which is the powerful inflation factor.
  4. The transformation of state banks into tools for stimulation of economic growth and structural changes in economy. The improvement of quality of state bank management through implementation of anticorruption protection methods, improvement of HR quality through open competitions as well as development of strategy of state banks, aimed at accelerated high technology development of economy.  
  5. Attraction of foreign capital only within the national economic policy with building of accurate system of protection of national interest of Ukraine.
  6. Enhancement of efficiency of using international aid and lending, public promulgation of reports about the use of international aid.
  7. Structural reorganization and acceleration of economic development, aimed at development of high profile fields, investment activities in priority sectors.
  8. Systematic update of legislation on public stimulation of accelerated development of economy, development of mechanisms of transparent and efficient decision-making in this sphere.

 

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