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Accounting rate at the level of 25% is unacceptable for agribusiness

 

At the beginning of June, an accounting rate was raised up to 25%, which was approved by the decision of the Board of the National Bank of Ukraine № 262-rsh «On the amount of accounting rate». This step of the National Bank of Ukraine will negatively affect business, including agricultural one.

This opinion was expressed by the UAC Deputy Chairman Denys Marchuk.

«For business representatives, including agricultural ones, the financial rate of banks has increased to 25%. Everyone understands that bank loans will not cost less than 30%. In wartime it is difficult to find a business with a profitability of 30%. This is a very important issue. I hope that a compromise will be found so that the financial lending rate is reduced and, as a result, the loans are actually used. At present, banks have the right to review the terms of loans that were issued earlier. In the current circumstances, when export is too limited, it is difficult for farmers, who do not have enough working capital, to repay credit rates at much higher rates than the conditions that were formed at the initial stage» said Denys Marchuk.

It will be recalled that the Board of the National Bank of Ukraine calls the purpose of raising accounting rate to protect UAH income and savings of citizens, increase the attractiveness of hryvna assets, reduce pressure in the foreign exchange market.

uacouncil.org

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