In Ukraine, may restrict imports in order to stop the decline hryvnia
A few days ago, on Monday, November 10 the head of the National Bank of Ukraine Valeriy Gontareva meeting was held with the management of 40 of the largest banks in the country. He discussed the situation with the hryvnia. To prevent inflation may be offered this option: an appeal to the National Bank of the Ministry of Economic Development with the recommendation to create a list of critical imports. Restricting the import of goods from other countries, according to the regulator of the Ukrainian currency, can hold the fall of the hryvnia.
Similar measures have previously been taken by the government of our country in the 1990s. Then the critical was named this kind of imported products: palm oil, cocoa beans and other products for the food industry, petroleum products, gas, oil, equipment which is not produced in the country. These goods are received benefits for the state duty and were exempt from VAT. The rest of the imports was put in hard bounding box. After joining the WTO Ukraine refused such practices.
Currently, our economy is in crisis, so reappeared view that import restrictions can change the situation and reduce the devaluation pressure on the currency. List of critical imports are not currently drafted.
Take some action, of course, necessary, but an expert on the economy - Vitaly Vavrischuk, who is the head of the analytical department of financial companies SP Advisors, says that the proposed option will not help. Import restrictions keep course for a short time. Subsequently, create a black market for foreign goods, which would be extremely difficult to destroy. In addition, such measures threaten the acceleration of inflation on the eve of their introduction. Ukrainians are massively buying household appliances, and businesses will begin to stock up for the future raw material for production. Accordingly, before the introduction of restrictions on imported goods, it is necessary to develop a detailed plan of action.