The National Bank of Ukraine (NBU) aims by 2020 to reduce the level of the monetary base to GDP to 7.5% from 15.6% at end of 2015, NBU Governor Valeria Gontareva said at the Ukrainian Financial Forum, the NBU reported on Facebook.
”Our ambitious goal is to reduce the level of the monetary base to GDP from 15.6% last year to 7.5% in 2020,” she said.
Gontareva stressed that the introduction of cashless economy would bring our country to the life standards of the developed countries and accelerate the reduction of the shadow economy. Furthermore, this will contribute to the stable operation of the banking system.
As UNIAN reported earlier, the monetary base in Ukraine increased by UAH 2.980 billion in August, or 0.8%, as compared to July, reaching UAH 357.646 billion.
Since September 1, 2013 Ukraine has limited cash payments made between enterprises (entrepreneurs) to UAH 10,000 within one day, and for individuals in settlements with companies (entrepreneurs) and settlements made between natural persons under purchase and sale contracts subject to notarization – to UAH 150,000 within one day.