Meeting of the Association in Odesa with the guidance of the National Bank of Ukraine

21/ 09/ 2018

On September 21, the EBA Odesa met with the leadership of the National Bank of Ukraine. First Deputy Governor Kateryna Rozhkova and Deputy Governor Oleg Churiy became speakers from the side of the NBU. On the agenda were the main trends in the economy and banking sector of Ukraine and expectations from the autumn of 2018 - 2019. Welcoming the guests, Mr Churiy spoke about the new Law of Ukraine On Currency and Currencies Operations, its novellas and differences and the overall impact on the currency sector of Ukraine. In further revealing of these issues, the speaker noted that the liberalization of foreign exchange operations is a pledge for the healthy development of the currency rotation sphere. Participants also heard about the directions of the NBU monetary policy, its focus on lower inflation, which is projected to reach the point of 8.9. In addition, as of today, the macroeconomic situation is quite satisfactory and forecasts for 2019 inspire the hope. In her speech, Ms Rozhkova highlighted the current state of the Ukrainian economy and what future trends could be expected from it. The First Deputy Governor of the NBU noted the major changes, needed by Ukrainian legislation to improve the situation in the banking sector and tax regulation, and how they can affect financial stability in the country. Also, the EBA members learned about some novels in the work of banks with corporate clients, the prospects for boosting bank lending and the general principles of future financial monitoring. Also, the management of the NBU shared some statistical data, forecasts of the economic situation and expectations in general. In particular, the change in the percentage of GDP in 2017 amounted to 2.5%, in 2018, according to the National Bank of Ukraine, it will be - 3.4%, and in 2019, the NBU forecasts an increase of another 2.5%. After that, the participants voiced business-relevant questions on taxation, its size, and terms of payment, currency control procedures and overall interaction with the NBU. There were also discussed opportunities for improving business conditions, which would lead to an increase in the quality of the economic and social situation of the country as a whole.

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On September 21, the EBA Odesa met with the leadership of the National Bank of Ukraine. First Deputy Governor Kateryna Rozhkova and Deputy Governor Oleg Churiy became speakers from the side of the NBU. On the agenda were the main trends in the economy and banking sector of Ukraine and expectations from the autumn of 2018 – 2019.

Welcoming the guests, Mr Churiy spoke about the new Law of Ukraine “On Currency and Currencies Operations”, its’ novellas and differences and the overall impact on the currency sector of Ukraine. In further revealing of these issues, the speaker noted that the liberalization of foreign exchange operations is a pledge for the healthy development of the currency rotation sphere. Participants also heard about the directions of the NBU monetary policy, its focus on lower inflation, which is projected to reach the point of 8.9. In addition, as of today, the macroeconomic situation is quite satisfactory and forecasts for 2019 inspire the hope.

In her speech, Ms Rozhkova highlighted the current state of the Ukrainian economy and what future trends could be expected from it. The First Deputy Governor of the NBU noted the major changes, needed by Ukrainian legislation to improve the situation in the banking sector and tax regulation, and how they can affect financial stability in the country. Also, the EBA members learned about some novels in the work of banks with corporate clients, the prospects for boosting bank lending and the general principles of future financial monitoring.

Also, the management of the NBU shared some statistical data, forecasts of the economic situation and expectations in general. In particular, the change in the percentage of GDP in 2017 amounted to 2.5%, in 2018, according to the National Bank of Ukraine, it will be – 3.4%, and in 2019, the NBU forecasts an increase of another 2.5%. After that, the participants voiced business-relevant questions on taxation, its size, and terms of payment, currency control procedures and overall interaction with the NBU. There were also discussed opportunities for improving business conditions, which would lead to an increase in the quality of the economic and social situation of the country as a whole.