The economy Minister said about the catastrophic situation with inflation

ministr ekonomiki

He also told me how to fix the problem.

In Ukraine, a critical situation with inflation. This was during a press conference said the Minister of economic development, trade and agriculture Igor Petrashko, reports the with reference to Country.

“The macroeconomic forecast, which became the basis of the budget provides for inflation of around 11%. Inflation, the NBU provided in the area 5-8-6%. We now have a disastrous situation with inflation is a very bad trend,” he said at a press conference in Kyiv on Tuesday.

According to the state statistics service, in annual terms inflation by the end of may-2020 slowed to 1.7% from 2.1% in April, 2.3 percent at the end of March. Inflation in 2019 4.1%.

“All the countries of the European Union and the United States also struggle with this fact, because it means loss of competitiveness, and depression of wages for workers. And since Ukraine is not in the Euro area and the us currency, depression is also concerning the balance of trade. So today we are thinking about how to stimulate the economy, including programs that are used with the banks, and the President stated the need to find options how banks to “curb”, — said the Minister.

“We need to get the banks to give money to the economy to have increased the supply of money,” said Petrashko and added that the Ministry does not intend unscheduled to revise the macroeconomic forecast, although carefully monitor the situation.