The National Bank of Ukraine (NBU) said Monday it held a regular meeting with CEOs from Ukraine's 40 largest banks to discuss economic developments and the overall situation with the financial and banking sectors.
NBU Governor Valeriia Gontareva said the system is virtually stable and sustained at the moment.
"According to our current projections, GDP is estimated to contract by 7.5 percent," NBU Deputy Governor Dmytro Sologub said. " However, next year, GDP stands good chances of rebounding back into positive territory with growth of 2 to 3 percent. The rate of inflation in Ukraine is recorded at 34.5 percent, but the trend is expected to reverse by end-2015, bringing inflation down to 30 percent. Next year, inflation is expected to fall drastically to 13 (or) 14 percent.”
Discussions were also held regarding legislation that is currently in consideration in the Ukrainian legislative body, the Verkhovna Rada.
The major consensus among bank CEOs was the efficacy of NBU action in stabilizing the economic situation.