The emergence of new denominations in the Ukrainian market could trigger inflationary effect
This was stated by the economist Alex Kush, reports Gazeta.ua.
“The last time the national Bank on the contrary has announced the development of cashless payments. Talked about the issue of digital and electronic hryvnia. Now decided to introduce a bill of 1000 USD. We live in the era of behavioral Economics. The decisions affect not just dry economic factors, but also psychological and behavioral. This can have the effect of increasing inflationary expectations,” he said.
The opposite opinion was expressed by economic expert Alexander Okhrimenko.
“The creation of new bills of large denomination to discuss a long time. It was possible to conduct before. Because prices rose, and the money worthless. 5 years ago a salary of 3 thousand UAH is considered normal. Now 10 thousand hryvnias not at all enough,” he said.
As previously reported, over the past 13 years, the NBU decided to make a completely new bill.
Ukrainian “thing” will be different from the rest of the money for its size (75 x 160 mm) that will help the ordinary Ukrainians to easily determine the denomination of the bill. Also a special distinction of novelty will blue colors. On the front of the banknotes will be a picture of Vladimir Vernadsky. On the other hand thousands will decorate the national Academy of Sciences of Ukraine.
The main question that bothers Ukrainians: as the introduction of new banknotes will affect prices and the economy?
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The main argument of the national Bank was too large variety of money in the wallet, that is, for the man was difficult to navigate when handling cash. Second, said the head of the NBU, it needs “to introduce a higher denomination”.
“Now to get monthly salary should be at least 20 banknotes. The volume of cash in circulation increased more than five — fold to 380 billion UAH”, — he explained.
Also, the NBU assure that this introduction will not affect neither the inflation nor the economy. The expert stated that the market introduction of the new banknotes does not affect the growth of prices for households, as the inflation only depends on the amount of money in circulation.
Recall that the second stage of monetization of subsidies — what will change for Ukrainians
As reported Politeka that Ukrainians told what to do with the subsidy.
Also Politeka wrote that it is known who receives more than 40 thousand hryvnia per month pension.