Peculiarities and main directions of the monetary and credit policy of Ukraine under martial law

Authors

DOI:

https://doi.org/10.58423/2786-6742/2023-4-264-276

Keywords:

monetary policy, inflation, targeting, discount rate, money supply, required reserves, international reserves, gold and currency reserves, financial system, National Bank of Ukraine

Abstract

Ukraine has a large number of factors influencing economic processes in the country, which are regularly undergoing dynamic transformation and sometimes pose threats to the stability of its financial system. Otherwise, economic growth is largely determined by the results of the effective implementation of monetary policy, which is implemented through the impact on the level of money supply, lending, interest rates, exchange rates and other financial parameters in order to achieve macroeconomic goals, such as price stability, budget balance, economic growth and financial stability. The purpose of the paper is to identify the features and key directions of monetary policy in Ukraine in the current environment. The research provides an overview of the main aspects of the functioning of the country's monetary and financial system and examines the impact of various factors and drivers on economic processes in the country. within the study, the features of the types of monetary policy are grouped and analyzed. Analyzes of the main macroeconomic indicators help in making informed decisions and serve as a prerequisite for successful consideration of opportunities in comparing them with trends in the global market. When studying the world experience and determining the directions of implementation of monetary policy in European countries, the author considers the possibilities of their application in our country during the war and post-war period. The material argues that constant changes and unexpected internal or external factors may have an impact on the implementation of monetary policy, changing its methods and instruments in line with current economic challenges. The author emphasizes that current trends in the field of monetary policy, in particular in the context of macroeconomic stability and economic growth, require a review and focus on identifying strategic steps and recommendations for improving monetary policy in Ukraine at the present time.

Author Biography

Iryna Zaichko, National Academy of Statistics, Accounting and Auditing

Candidate of Economic Sciences, Associate Professor

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Published

2023-12-22