PrivatBank nationalization will not affect price level and inflation, - Groysman

The prime minister said that PrivatBank will be stable and one should not worry about what happens to it
17:21, 23 December 2016

Press-service of the Cabinet of Ministers

Prime Minister Volodymyr Groysman said that nationalization of PrivatBank will have no effect on the price level and inflation in 2017. He said this during the meeting with students of National Technical University of Ukraine on air of 112 Ukraine TV channel.

Answering the student's question about how the nationalization affects the price level and inflation in 2017, the Prime Minister replied: "In no way it does. We do not see any associated impact of the transition of PrivatBank in the state property. On the contrary, it is a step, which stabilized the financial situation in financial and economic system of the country."

The prime minister said that PrivatBank will be stable and one should not worry about what is happening with it.

PrivatBank will be absolutely stable and there is no need to worry about the fact that something is going to happen. The State has an obligation. We had two possibilities. It is either the bank passed into public ownership or that it should have been eliminated. There is no third option given. We worked on this hard enough, but have taken the responsibility. I was not interested in political games around PrivatBank. I am interested in only one thing - 20 million PrivatBank clients. And this actually required us to take an important and bold solution from the state. As all other decisions would have led to a huge problem," the prime minister said.

"Our goal is to continue development of the state PrivatBank, so that the service improved and not worsened," Groysman said.

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