Resin: Needs to take control of inflation, otherwise no long-term, strategic investor will not come here

Photo: National Bank Of Ukraine / Flickr

To ensure sustainable economic growth, Ukraine needs to increase investment in the economy. In an interview with ZN.ua the head of the National Bank of Ukraine (NBU) Yakov Smoliy.

“The main thing for this condition we see an increase in real investment, both external and internal. However, if inflation is at 13% as it is today, we cannot expect long-term investment, because the investor cannot calculate what he will be the long-term profitability,” he said.

The head of the NBU believes that now in the Ukrainian economy in the long term do not invest.

“We are now seeing only short-term investments, when high interest rates are only so-called hot money. This is not an investment in the economy and speculative activities – I came, tried and left. If we want someone who bought equipment, set up production, has implemented an infrastructure project, it needs to take control of inflation, otherwise no long-term, strategic investor will not come,” – said resin.

In April 2018, according to the NBU, consumer inflation in Ukraine continued to decelerate for the third consecutive month to 13.1% in annual terms, however, a few more than planned.

According to the consensus forecast of the Ministry of economic development and trade, average yearly inflation rate in 2018 will be 11.7%, in 2019 – 8,9%, in 2020 to 8.3% in 2021-m – 7,4%.

Deputy head of the NBU Dmitry Sologub predicts that by the end of 2020, the inflation rate in Ukraine will be reduced to 5%.


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