Wednesday, May 14, 2008

Association of banks accuses diverge state policy making of high inflation level.

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Association of banks accuses diverge state policy making of high inflation level. Country’s association of banks accused state policy making of high level of inflation.The president of association of banks Mr. Sugoniako announced that annual inflation is expected to reach 30% y/y in 2008, and is the most drastic figure not only for Ukraine in the long time but also among CIS countries. It was noticed that social orientation led by the government of Yulia Tymoshenko is a major economic mistake. The president of the association noticed that customer credits also fuel domestic economy. The customer credit portfolio is believed to make up UAH 180bn (USD 35.64) at present. At this, Mr. Sugoniako said it is easier to get large funds in customer loan in general, than to receive a credit on some business project. To remind, the inflation reached 3.1% m/m and 13.1% ytd, as of end-April, and Yulia Tymoshenko claims that in 5-6 months it must be leveled.

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Association of banks accuses diverge state policy making of high inflation level.

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