The National Bank of Ukraine (NBU) needs to gradually depart from the strict monetary and credit policy and apply softer monetary methods of ensuring development of the national economy, Head of NBU Council Bogdan Danylyshyn said, according to Finance.UA materials.
«The correct monetary and credit policy is the third component of economic growth. I believe that we need to gradually depart from monetary and credit policy towards softer monetary methods of ensuring development of the national economy», Danylyshyn wrote in Facebook.
In the meantime, he emphasized that the excessive inflation targeting keeps down the economic revival.
«We should attentively defend our interests before our creditors, who make us do the excessive inflation targeting, i.e. in fact, as the result of it, along with keeping down the price surge, we will also kill the sprouts of our economic revival», he wrote.
In the meantime, Danylyshyn added that the economic growth is the main purpose.
«The whole world understands that the monetary and credit policy is only the means, but not the purpose of economic development. The economic growth is the main purpose. In Ukraine, many people think otherwise. The situation, when there is no inflation and there is no economic growth, cannot be recognized as satisfactory», he wrote.
