Ukrainian president calls for rigid monetary policy

Ukrainian president calls for rigid monetary policy

THE FINANCIAL -- Ukrainian President Viktor Yuschenko said that the state needs a rigid monetary policy, Interfax Ukraine reports. "We need to support our producers through a rigid [monetary] policy," the president said during a meeting of the Cabinet of Ministers dedicated to price formation on Friday. He said this requires the mobilization of all branches of power.


"Money can only be strong if it is stable," Yuschenko said. The president said Ukraine's trade deficit today is about UAH 7 billion, almost half of deposits of Ukrainians are in foreign currency, though this tendency has changed recently, and the deposit growth rate is about 60%.


 

Author: The FINANCIAL