NBU has not printed money to finance budget deficit since beginning of year

The National Bank of Ukraine (NBU) has not resorted to emission financing of the budget deficit since the beginning of the year.

This is stated in the message of the NBU, Ukrainian News Agency reports.

"The activation of the work of banks on the domestic debt market (investing in government domestic loan bonds) made it possible to do without the "printing" of money. As a result, our country will live without emission financing of the budget deficit for the whole of 2023," it says.

Last year, the National Bank was forced to issue UAH 400 billion to finance critical expenses of the country in a state of full-scale war.

According to the NBU Depository, during the ten months of 2023, the government of Ukraine raised UAH 321,908.1 million, USD 3,098.4 million, and EUR 709.3 million from the placement of government bonds at auctions.

UAH 183,261.9 million, USD 3,175.3 million and EUR 588.0 million were allocated to the repayment of domestic debt government securities during this period.

As Ukrainian News Agency earlier reported, for January-October 2023, the state budget was implemented with a deficit in the amount of UAH 900.0 billion, including the general fund - in the amount of UAH 923.1 billion, against the planned deficit of the general fund for January-October 2023 in the amount of UAH 1,478.0 billion.

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