In the midst of a full-scale war, Ukrainian business has found itself effectively cut off from credit resources<\/strong>. In terms of lending to the private sector, Ukraine is now behind even such poor and unstable countries as Somalia<\/strong>, where this indicator twice as high<\/strong>. Economists and representatives of the business community are increasingly calling this one of the most controversial results of the current leadership of the National Bank of Ukraine.<\/p>\n According to international comparative data, the ratio of business loans to GDP in Ukraine is one of the the lowest in the world<\/strong>. In fact, banks are hardly fulfilling their key function of financing economic growth<\/strong>.<\/p>\n For comparison:<\/p>\n In most African countries, business lending is more active even in the face of political instability;<\/p>\n<\/li>\n In Ukraine, banks mainly invest in GOVERNMENT BONDS<\/strong> or retain excess liquidity without taking the risk of working with the real sector.<\/p>\n<\/li>\n<\/ul>\n The key reasons for the problem are as follows high NBU discount rate of 15.5%<\/strong>. Under these conditions:<\/p>\n loans for entrepreneurs become economically unprofitable;<\/p>\n<\/li>\n small and medium-sized businesses are actually excluded from bank financing<\/strong>;<\/p>\n<\/li>\n investments in expanding production or creating new jobs are postponed indefinitely.<\/p>\n<\/li>\n<\/ul>\n As a result, the state simultaneously has:<\/p>\n budget deficit<\/strong>;<\/p>\n<\/li>\n an army that largely survives on donations<\/strong>;<\/p>\n<\/li>\n a business that cannot develop and fill the budget with taxes.<\/p>\n<\/li>\n<\/ul>\n Amid these challenges, the NBU is focusing on solutions that business and experts call minor or symbolic<\/strong>. In particular, it is the idea of \u00abde-Russification of the kopeck\u00bb through the introduction of the so-called \u00abstep\u00bb<\/strong>, The new law is considered by many economists to be a political gesture rather than an economic reform.<\/p>\n Critics emphasise that in a situation of war, the question of cheap money for the economy<\/strong> and production support should be an absolute priority.<\/p>\n Of particular concern are investigative journalism<\/strong>, The report alleges that some Ukrainian banks:<\/p>\n is used for cash-out<\/strong>;<\/p>\n<\/li>\n involved in tax optimisation<\/strong>;<\/p>\n<\/li>\n provides turnkey financial services for top-level corrupt officials<\/strong>.<\/p>\n<\/li>\n<\/ul>\n If these allegations are confirmed, it will mean that the financial system<\/p>\n does not work for the economy and defence;<\/p>\n<\/li>\n At the same time, it serves closed elite schemes even during the war.<\/p>\n<\/li>\n<\/ul>\n Experts agree that Ukraine is in critical need of these:<\/p>\n lowering the discount rate<\/strong> or special credit instruments for business;<\/p>\n<\/li>\n state guarantees for the war economy;<\/p>\n<\/li>\n allocation of bank capital to production, exports and the military-industrial complex<\/strong>, and not for speculative operations.<\/p>\n<\/li>\n<\/ul>\n Without this, the money will not work either for the frontline or for the country's recovery.<\/p>\n Ukraine is fighting not only on the battlefield, but also for economic survival<\/strong>. When a country's lending to businesses is below Somalia<\/strong>, This is a signal of a systemic problem. Without a revision of monetary policy, transparency in the banking sector, and real support for entrepreneurship, the risk of economic stagnation will only increase - with direct consequences for the country's defence capability and future.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" \u041d\u0430\u0432\u0456\u0442\u044c \u0421\u043e\u043c\u0430\u043b\u0456 \u043f\u043e\u043f\u0435\u0440\u0435\u0434\u0443: \u0447\u043e\u043c\u0443 \u0443\u043a\u0440\u0430\u0457\u043d\u0441\u044c\u043a\u043e\u043c\u0443 \u0431\u0456\u0437\u043d\u0435\u0441\u0443 \u043c\u0430\u0439\u0436\u0435 \u043d\u0435 \u0434\u0430\u044e\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442\u0456\u0432 \u0423\u043a\u0440\u0430\u0457\u043d\u0441\u044c\u043a\u0438\u0439 \u0431\u0456\u0437\u043d\u0435\u0441 \u0443 \u0440\u043e\u0437\u043f\u0430\u043b \u043f\u043e\u0432\u043d\u043e\u043c\u0430\u0441\u0448\u0442\u0430\u0431\u043d\u043e\u0457 \u0432\u0456\u0439\u043d\u0438 \u043e\u043f\u0438\u043d\u0438\u0432\u0441\u044f \u0444\u0430\u043a\u0442\u0438\u0447\u043d\u043e \u0432\u0456\u0434\u0440\u0456\u0437\u0430\u043d\u0438\u043c \u0432\u0456\u0434 \u043a\u0440\u0435\u0434\u0438\u0442\u043d\u0438\u0445 \u0440\u0435\u0441\u0443\u0440\u0441\u0456\u0432. \u0417\u0430 \u043e\u0431\u0441\u044f\u0433\u0430\u043c\u0438 \u043a\u0440\u0435\u0434\u0438\u0442\u0443\u0432\u0430\u043d\u043d\u044f \u043f\u0440\u0438\u0432\u0430\u0442\u043d\u043e\u0433\u043e \u0441\u0435\u043a\u0442\u043e\u0440\u0443 \u0423\u043a\u0440\u0430\u0457\u043d\u0430 \u0441\u044c\u043e\u0433\u043e\u0434\u043d\u0456 \u043f\u043e\u0441\u0442\u0443\u043f\u0430\u0454\u0442\u044c\u0441\u044f \u043d\u0430\u0432\u0456\u0442\u044c \u0442\u0430\u043a\u0438\u043c \u0431\u0456\u0434\u043d\u0438\u043c \u0456 \u043d\u0435\u0441\u0442\u0430\u0431\u0456\u043b\u044c\u043d\u0438\u043c \u043a\u0440\u0430\u0457\u043d\u0430\u043c, \u044f\u043a \u0421\u043e\u043c\u0430\u043b\u0456, \u0434\u0435 \u0446\u0435\u0439 \u043f\u043e\u043a\u0430\u0437\u043d\u0438\u043a \u0443\u0434\u0432\u0456\u0447\u0456 \u0432\u0438\u0449\u0438\u0439. \u0415\u043a\u043e\u043d\u043e\u043c\u0456\u0441\u0442\u0438 \u0442\u0430 \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u043d\u0438\u043a\u0438 \u0431\u0456\u0437\u043d\u0435\u0441-\u0441\u043f\u0456\u043b\u044c\u043d\u043e\u0442\u0438 \u0434\u0435\u0434\u0430\u043b\u0456 \u0447\u0430\u0441\u0442\u0456\u0448\u0435 \u043d\u0430\u0437\u0438\u0432\u0430\u044e\u0442\u044c \u0446\u0435 \u043e\u0434\u043d\u0438\u043c \u0456\u0437 \u043d\u0430\u0439\u0431\u0456\u043b\u044c\u0448 \u0441\u0443\u043f\u0435\u0440\u0435\u0447\u043b\u0438\u0432\u0438\u0445 [\u2026]<\/p>\n","protected":false},"author":207433346,"featured_media":7290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"%title% ","rank_math_description":"","rank_math_focus_keyword":"\u0431\u0456\u0437\u043d\u0435\u0441","td_subtitle":"","subtitle":"","footnotes":""},"categories":[806792],"tags":[806793],"class_list":{"0":"post-7289","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analitika","8":"tag-806793"},"_links":{"self":[{"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/posts\/7289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/users\/207433346"}],"replies":[{"embeddable":true,"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/comments?post=7289"}],"version-history":[{"count":1,"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/posts\/7289\/revisions"}],"predecessor-version":[{"id":7291,"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/posts\/7289\/revisions\/7291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/media\/7290"}],"wp:attachment":[{"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/media?parent=7289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/categories?post=7289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ukrmedia.news\/en\/wp-json\/wp\/v2\/tags?post=7289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Loans: critically low level<\/h3>\n
\n
The discount rate as a \u00abnoose\u00bb<\/h3>\n
\n
\n
NBU priorities during the war<\/h3>\n
Accusations of shady practices<\/h3>\n
\n
\n
What the economy lacks<\/h3>\n
\n
Conclusion.<\/h3>\n