Gontareva still hasn't transferred last year's profit to the budget.

by Editor • 22.08.2016 • 0 Comments

There is a formal reason: the National Bank Council has not been formed.
The National Bank of Ukraine has still not transferred its 2015 profit to the State Budget, DS reports, citing Ukrinform.

At the same time, the NBU itself claims that it is ready to transfer profits for 2015 in the amount of UAH 38,164 billion to the budget, but only after the NBU Council is formed.

This situation became the subject of discussion at a meeting of the Financial Stability Council chaired by the Minister of Finance Alexander Danyliuk with the participation of the Chairman of the National Bank of Ukraine Valeria Gontareva (Read more about it in the article Valeria Gontareva. The Glitter and Machinations of the Queen of Coins), heads of national commissions - financial market regulators Timur Khromaev and Igor Pashko, managing director of the Deposit Guarantee Fund Konstantin Vorushilin.

"Meeting participants discussed the importance of transferring NBU profits to the State Budget of Ukraine for its successful implementation. Valeria Gontareva assured those present of the NBU's full readiness to transfer UAH 38,164 billion in profits for 2015. To achieve this, it is necessary to form the NBU Council as soon as possible, which must approve the National Bank's financial statements," the Ministry of Finance reported.

Furthermore, the meeting raised the issue of resuming lending to the economy in 2017. This is hampered by a dysfunctional judicial system, the lack of legislation strengthening creditor rights, and the high debt burden of most large enterprises.

As DS reported, the NBU Council is formed by the Verkhovna Rada of Ukraine and the President of Ukraine, each delegating four members to the Council. The NBU Governor serves on the NBU Council ex officio. In July 2016, the Verkhovna Rada dismissed seven members of the NBU Council, whose terms had expired in 2015. Four members of the NBU Council were appointed in their place.

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