Rozhkova does not understand the criticism of members on Treasury bonds
The Parliament approved the coverage of the budget by borrowing, and now the MPs criticized the actions of the NBU, said Rozhkov.
Acting head of Board of National Bank Ekaterina Rozhkova said the statement and criticism of “pyramid” with Treasury bonds from the deputies, soosaithas-Ukrainav Monday, July 13.
“About some kind of “pyramid” of government bonds. MPs contradict themselves. After all, the Parliament voted a new budget. It provides for the extension deficit, which is covered by new borrowing. That is, in fact, the deputies allowed the Finance Ministry to new borrowings, including by issuing government bonds. And now is criticized for it. Due to the fact that we have low inflation and low interest rates, the Ministry of Finance is sorted by price from 7% to 10% per annum. This is a record low for our country bid. And then they say, “No, this is wrong”, “this is the pyramid of government bonds”, “why don’t you participate in it, and who participates in it?”, “who puts?”, “why do places?”. It looks bad, to be honest. And it’s a shame,” said Rozhkov.
“Run the printing press” and “let the Ministry of Finance is cheaper” is two stories that contradict each other. The same can not be to high inflation and low interest rates. This will never happen,” she added.
At the same time, starting the printing press she called “red line” that the Central Bank will not go.
“I don’t see any prosperous country and not a prosperous economy in which the economy worked according to the governmental decree or by decision of the Parliament. There are economic laws. Everything has a price and its value. If you start to over-regulate business (rates, fees, etc.), it just stops working. Our task: to have money in the banking sector or on the contrary — to push them out of banks?” — said Rozhkov.
As you know, in six months, the Finance Ministry attracted to the state budget borrowing decreased by 259.5 billion.