There will be no cheap loans in Ukraine till banks pay high interest rates on deposits, financial expert Oleksandr Okhrymenko told a press conference, ForUm correspondent reports.

The expert reminded that few years ago Russia introduced tax on deposits, which helped to reduce the high rates.

"Ukraine will not develop until people have 83 billion dollars in cash. We are too much enthusiastic about the dollar. Love for dollar is killing the real economy of Ukraine. I believe that we need to ban foreign currency deposits, and introduce the tax on deposits, like in Russia. Nothing bad will happen, except for critics of the tax," he said.

According to Okhrymenko, the deposit is so popular because it is the only monetary instrument, exempt from taxation. "That's not fair. Now it is unprofitable to buy stocks or bonds, as they are taxable," he said.

In his view, the longer Ukrainians will keep "dollars in the bedside table", the longer our government won’t be able to solve the issue of balance of trade and balance of payments.


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