NBU's high discount rate prevents business lending – Groysman

Ukrainian Prime Minister Volodymyr Groysman has said the key rate set by the National Bank of Ukraine (NBU) at 17% does not allow businesses to obtain affordable loans.

"I believe that 17% is really a sky-high rate that does not allow receiving affordable loans for Ukrainian companies. This is a big challenge," the prime minister said.

According to him, Ukrainian businesses cannot compete with the Europeans in terms of attracting financial resources due to the high key rate.

Read alsoUkraine businesses forecast hryvnia rate for coming year"European businesses receive loans at 1-2%, while today we receive at 17-20% in hryvnia, which is unrealistic," Groysman said.

The prime minister also said that the National Bank is an independent regulator, which sets the key rate independently.