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Money issue volumes could be up to UAH 60 bln per month – deputy head of President's Office Shurma
KYIV. Aug 17 (Interfax-Ukraine) – Under certain conditions, the National Bank of Ukraine (NBU) can cover the state budget deficit of up to UAH 60 billion with emission financing, Deputy Head of the President’s Office Rostyslav Shurma has said, while the National Bank declares the upper ceiling of UAH 30 billion per month.
"According to calculations, we understand that with a balance of export-import operations, resolving the issue of paying the state debt and significant support from international partners, this amount can easily range from UAH 30 to UAH 60 billion per month. This is a range that does not create problems," Shurma said in an interview with the Ukrainian edition of Forbes published on Tuesday.
According to him, among such conditions may be the unblocking of grain exports, an additional 10% duty on foreign exchange transactions for imports and a high level of external financial support. "This means that the balance of payments will even out, that is, we will be able to provide budget support for more than UAH 30 billion per month without significant risks for the currency," the deputy head of the Presidential Office said.
Commenting on the public discussion between the National Bank and the Ministry of Finance, Shurma said that the institutional conflict between them is a normal situation for developed countries, but in extreme situations they should work as a team.
"Unfortunately, this is not enough for us. But, I hope, we will be able to bring these positions closer and find a reasonable level of monetary support that will help close the budget problems and will not create excessive devaluation pressure," the deputy head of the Presidential Office said.
