The national Bank drew up a plan for the abolition of foreign exchange restrictions

Нацбанк составил план отмены валютных ограничений

NBU showed a road map for the abolition of foreign exchange restrictions

The financial regulator gradually softening currency restrictions imposed until 2016. In the future they plan to cancel.

The national Bank announced the plan of lifting restrictions on the foreign exchange market. The financial regulator notes that the restriction is still relevant for maintaining macroeconomic and financial stability. This is stated in the NBU report on the introduction of protective measures.

As noted, all of the limitations that still persist in the currency market were introduced up to 2016 primarily due to the accumulation of significant macroeconomic imbalances in the years 2010-2013, the annexation of Crimea and the deployment of the military conflict in the East, and the imposition of trade restrictions by Russia.

“Entered protection measures have proved effective. For 2016-2018, Ukraine’s GDP grew steadily. Consumer inflation declined from 43.3% at the end of 2015 to 9.8% at the end of 2018. International reserves during this period increased significantly and are held at more than 20 billion dollars”, – the document says.

NBU will loosen and undo the protection gradually and the improvement of the macroeconomic situation based on an assessment of the effects from the already removed restrictions on the foreign exchange market.

“Our ultimate goal is free movement of capital without any exchange restrictions”, – the document says.

Нацбанк составил план отмены валютных ограничений

 

Note, in the framework of reducing foreign exchange restrictions of the NBU from March lowered the norm of obligatory sale of currency by exporters up to 30% and allowed to withdraw the dividends.

 

News from the Reporter.net Telegram. Subscribe to our channel https://t.me/korrespondentnet

Source