Named as the main culprit of the economic crisis in Ukraine

The former Minister of Finance of Ukraine Igor Umansky believes that the policy of the National Bank triggered the economic crisis in the country.

Назван главный виновник экономического кризиса в Украине

He said this in his interview, — Hvil reports citing Gordon.

Umansky noted that the crisis in Ukraine began long before the coronavirus, the country’s economy “again rolled down” around mid-2019.

“Our economic crisis, which began really in the last year, had nothing to do with the coronavirus. Coronavirus it has only strengthened. Crisis definitely could have been avoided,” – says the former Minister.

In his opinion, the national Bank has pursued a policy of “deliberate deterrence of economic development.”

“I believe that, if we take the system authorities, the national Bank made the largest contribution to the economic crisis in the country. The national Bank pursued a policy of deliberate containment of economic development, fixes the growth of the economy. They deliberately held back lending to the economy. The only thing that worked and maintained, is consumer lending. Such a policy is the primary financial regulator, despite the fact that were both internal and external factors which could afford to develop and grow, has led to such results as the result”, – said Umansky.