On December 26, 2014, Governor of the National Bank of Ukraine Valeria Gontareva will take part in the plenary meeting of the Parliament at the invitation and according to the calendar agenda of the Verkhovna Rada of Ukraine.

Governor of the National Bank will inform members of the Parliament on the current situation in the monetary market and the banking system. As has been previously said, Valeria Gontareva is ready for the meaningful dialogue with members of the Parliament of Ukraine on the ways to stabilize the domestic economy and the authorities’ immediate steps in this direction.

At the same time, please, be informed that Governor of the National Bank Valeria Gontareva will not be able to take part in today’s meeting of the Verkhovna Rada of Ukraine Budget Committee (hereinafter - Committee) due to participation at the said time in the meetings of the Cabinet of Ministers and the National Council of Reforms chaired by the President of Ukraine. Head of the Committee Andriy Pavelka has been informed about this situation by a letter.

In the aforementioned letter Valeria Gontareva provided detailed answers to the questions previously received from the Committee. She has reported that the regulator does not provide medium-term UAH/USD rate forecast for the budgeting process and stated that the Ministry of Economic and Social Development of Ukraine is responsible for preparation of the key macro indicators. Pursuant to the Law of Ukraine On the National Bank of Ukraine, when exercising its main function the National Bank shall proceed from the priority of achievement and retention of the price stability in the country, the indicator whereof is the growth rate of consumer price index.

The regulator’s official forecast will be published after receiving information from the Government of Ukraine on the expected rise in administered prices and tariffs. Information on the forecasted amount of such transfers to the State Budget of Ukraine in 2015 was reported to the Ministry of Finances of Ukraine in the official letter from the National Bank in October 2014.

According to the preliminary forecasts the National Bank will transfer about UAH 38 bln. to the State budget in 2015. This will be finally confirmed by the audit in April 2015.