congratulations, this is the news of the economy during the war. i am andriy yanitsky, you are watching the espresso tv channel. today is thursday, july 7. if you watch us on the internet, please like the video. comment so that

more people can see us. our correspondents lyudmila and volodymyr first became immigrants in 2014 when they moved from donetsk to kramatorsk there in 7 years, they created a modern cheese factory, when they made more than a dozen types, the war forced them to flee again on the advice of a friend, they went to cherkasy, here they found shelter in an ancient village , very nice people, we like everything, leaving kramatorsk, in addition to their own things, they took only a 50-liter pan for milk. the main desire is emphasized by volodymyr using elementary conditions, the couple cooks cheese again here, the tulka is natural, everything here, there are no additives of any kind, there is something else here, uh, without any harm to

animals, there without it, it’s very clean, this circus is like that a kosher tasty and nutritious product is currently being treated to her other immigrants are in the village now 118 the desire to help others motivated the spouses and their like-minded people to implement another initiative to create a center for immigrants the village government provided the premises renovated with joint efforts svitlana a hairdresser in the city of lyman had her own small salon the war destroyed everything but not the desire to work."

this is my profession. she brings joy to people. iryna shchaplynka brought her two sons to the hair salon. she says she was pleasantly surprised by the service and quality. service, i joined this group and there was an announcement that there is such a help center here, that you can wash your clothes, that you can get a haircut for free. to talk about cheeses, that is, so much information for me. to be honest, it was kind of strange. i checked it all out several times for free. wash clothes, do hair and taste cheese and everything is free. they come here and local residents leave some products from their own

farms as a sign of gratitude. the very idea appeared and then they found funding . thanks to this, this center appeared, the plans of lyudmila and volodymyr are ambitious, in addition to improving the work of the center, they dream of opening a cheese factory in cherkasy region, there is experience and desire, and there will be no shortage of consumers of quality products. we are thinking about building a cheese factory in cherkassy already so that it meets all the requirements . we have a real european cheese factory in kramatorsk, that is, with all the requirements. this is something similar. the experience of the resettlement of the spouses proves by its own example that one should not fold one 's hands, because

there are enough opportunities to start a normal life again from cherkasy for the espresso channel, the stories of immigrants who open their own businesses again territories free from the enemy are actually inspiring , but in addition to the actions of individual businesses, there are actions of the authorities and today we will monitor the actions of the authorities, we will speak with a high-ranking official, deputy chairman of the national bank of ukraine, serhiy nikolaychuk, mr. serhiy, are you with us yet? good morning, mr. andriy, good morning and the reason for our conversation is yesterday's column of the head of the national bank of ukraine, kirill shevchenko, on ukrainian pravda, he does n't write columns that often. 2020, that is, two years have passed. well, of course, he may have written them for other media, but here it is for ukrainian pravda, for the first time in the last two

years, and the entire column is devoted to the issue of the hryvnia, and what kind of influence does it have, he says. how does it affect on the economy of ukraine, but before that, in order to approach this issue, let's outline the status quo from the beginning. to be in a state of war, we continue to carry out a military threat yes, but at the same time, of course, the economy is already in a much better state than the one it was in . now they are working according to the level of loading

and loading of their capacities and the level of work of various retail chains and the level of work of the same restaurants and so on, and if you compare with the pre-war well, at least until this phase of the war, the levels are is it possible to say in percentages that we have restored economic activity by 50%, or by 30 or by 20? if you look at various indicators, in many sectors the level of utilization below the capacity of enterprises already reaches 80% of the pre-war level, at the same time when we talk about the overall indicator about gdp, according to the results of the second quarter, they estimate a drop compared to the second quarter of the second quarter of last year by about 39%. eh, you say that we haven't quite

returned to normality yet, which is understandable, eh 20% our country is occupied, heavy battles are being waged, hmm, if we talk about regulation, then this is the reason why we still have currency restrictions . the national bank of ukraine influences the hryvnia exchange rate, and actually tied it to the dollar, and made the dollar the reference point. by the way, the hryvnia is now stronger in relation to other currencies, well, this is not really the reason, the reason we have a war with russia, yes, and the things you are talking about, currency regulation, exchange rate fixation, this is already the reaction of the national bank to these reasons, to what is happening in the economy and this is, in fact, the toolkit of the national bank during wartime in order to perform its key functions of ensuring price and financial stability in these conditions, but little by little you are removing these

restrictions. as far as i know, currency restrictions have been reduced . to work as an importer and exporter. although not everyone knows it, yes, we basically look at our currency restrictions every day of every week and adapt them to the situation in the economy, which is dynamically changing. during the last weeks, in my office, restrictions were removed as much as possible that prevented the functioning of enterprises from functioning of business to recover. these primarily concern restrictions on imports, hare operations, that is, on operations. however, at the same time, we are also adapting our restrictions that are not allow e-e do not allow e-e capital to be freely transformed into currency values. that is, we

stop it as much as possible the flight of capital from ukraine , taking into account the difficult situation on the foreign exchange market, its difficult situation with our international reserves, well, if it depends on you and not on the government, i have a personal request. i know that there are problems with plastic in banks, at least one large state bank says that it cannot issue plastic cards because there is no supply of this bank plastic, and where is the second one encountered such problems with the import of uh, this is uh, thread for embroidery, uh, strangely enough, they say that this is not a critical import and that they do not give permits for it, and buying these threads was a retreat in the direction of hoping for to remove currency restrictions completely during the war is it possible or still not worth it until we sign eh until

russia capitulates yes and the restrictions will not be completely removed our victory returning to a peaceful state is of course a very important prerequisite for starting to shoot so seriously currency restrictions it is unlikely that we will be able to do this until now, but even after our victory, i think that the process of removing currency restrictions will be gradual enough, we may have passed this way in 2006 and 2020, and i think that we will use the experience that we had in order to remove restrictions as quickly as possible on the one hand, on the other hand, not to endanger the price and financial stability of ukraine, the government already openly criticizes the national bank of ukraine, here is the prime minister

of ukraine, denys myhal in in an interview with the left bank edition, nu said that the national bank did not consult with the government regarding the 25% discount rate. although e had such an opportunity within the framework of e joint as it is correctly called the financial stability committee or e-e financial stability council, so why did n't they really consult and why didn't they consult? and should you consult at all? because i heard that the national bank of ukraine is an independent authority, yes indeed. i think that this statement by the prime minister clearly shows that the national bank remains independent. an independent person makes his decision based on the need to achieve his main goals. however, i would still like to correct a little bit if these statements were actually from

the ministry of finance in our country on a permanent basis communication takes place on an ongoing basis, we discuss certain policies in both the monetary and fiscal spheres, and this actually happened, for example, at the meeting of the financial stability board in early may, when we discussed the risks associated with the monetary financing of the state budget and the steps we saw at that moment, what was discussed was an increase in rates on financial instruments in hryvnia, including for foreign exchange, and in our opinion, the increase in the discount rate is an additional incentive for rates on hryvnia instruments how with deposits and pretending that pp was raised to more attractive levels, which would accordingly reduce the pressure on the foreign exchange market. well, actually, we came to the issue of emission financing of the budget. that is, what is it about, why is there so much controversy around this rate because the national bank of ukraine actually said that it is

wrong to finance the budget in the future, well , by printing, of course, it happens physically, but due to various financial mechanisms, by printing money that is not economically secured. and we have to learn to live by in their e-e revenues and e on the money that can actually be attracted from taxes or from western creditors or donors, and there is a dispute around this right now, that is, the national bank of ukraine offers the government to set market yields on debt securities in order for real investors to come and buy these debt papers, do i understand everything correctly? andriy, yes, indeed, at the beginning of the war, the decision to monetize the budget by the national bank was not alternative and necessary, but now that we are moving to at the stage of the war of attrition, it is very important for

the economy of our country to function in the conditions of a stable financial system based on the expected exchange rate policy. or to a large extent in the financing of the budget and the mission of the national bank significantly increases the risks to the economy for financial reporting we need to have other ways of securing public expenditures employees if we are to continue to imitate the hryvnia, i.e. to print the hryvnia to occupy government debt securities at the expense of the unsecured hryvnia, then in our country the prices and exchange rate of the hryvnia will continue to please, and the prices in our country are still the same. sorry, they predict a quarter of growth at the end of the year. we are getting poorer by a quarter. do

you talk about such risks? are there any other results? i am talking about exactly such risks. it is really just the emission of hryvnias through the purchase by the national bank of e-e of e-e issued by the ministry of finance of the russian federation - this is the way to exchange rate instability, then these new instability. actually, at the beginning of the war, we had a certain margin of safety in the form of accumulated international reserves, but gradually this margin of safety is running out, and we need to find other ways to finance the state budget, and not at the expense of exceptional individuals and the government's actual attraction of funds for the domestic market is a completely adequate tool even in such difficult wartime conditions, how many billions of hryvnias has already been issued by the national bank of ukraine in order to support the budget since the beginning of the full-scale invasion i saw figures that more than 200 e-e even

220 billion hryvnias 225 billion and it is dangerous of which 105 billion was simulated in june in june in just one month we are already in a dangerous situation is there still time we can still print e-e money goes there, there is a limit beyond which some inevitable changes begin, beyond which hyperinflation begins, and what is called an inflationary spiral, so when it is no longer possible to stop this thing, i don't want to stop it, we are in a dangerous zone, we have inflation reached 18% in may, according to our estimates, in june inflation has already reached about 20%. we see more and more pressure on the foreign exchange market if in

march-april the national bank transferred about 2 billion us dollars to the foreign exchange market in may 3.4 billion us dollars already in june, in order to restrain the e-e exchange rate, we sold 4-4 on the market billion dollars, in fact, we perfectly understand that the continuation of the same policy that took place during the last months in the financing of the budget of the exclusive mission is not almost exclusively emission funds of the national bank this is the way to destabilize the situation and on the currency market and in the financial system, in fact, that is exactly what was caused by one article column of the head of the national bank and we once again call on the government and other state authorities to reconsider their approaches to conducting economic politicians in wartime conditions , mr. serhiu, thank you for warning us about this danger, urges the government official to listen to the

position of the national bank of ukraine, and i also want to say that we have been inviting you to us for several weeks on the air of the minister of finance of ukraine, but unfortunately he did not find time to join, i hope that he will have this time later and we are ready to provide a platform for the ministry of finance to answer, and serhiy nikolaychuk, deputy chairman of the national bank of ukraine, was with us, and finally positive news from the united states, an exclusive coin has been released in america, the white house gift shop has released a collector's coin dedicated to ukraine, namely the ukrainian resistance to the russian invaders on the island of zmiiny about it the website of the store informs that each coin will have certificates with an edition number and a case with a golden presidential seal, as stated in the store , delivery to ukraine and all nato countries is free, and the coin itself costs $100, in addition, 20% of the proceeds from the sale will be directed to ukrainian

women and children, this was news of the economy during the war. i am andriy yanitsky. watch this program on weekdays at 8 with a repeat at 11 and on youtube when it is convenient for you. espresso tv channel together we will win the petition with the demand to return to of digital broadcast espresso, the fifth and direct channel scored more than 25 thousand votes on the website of the cabinet of ministers, ukrainians stood up to protect freedom of speech, now it 's the government's turn, do not ignore the opinion of ukrainians, return ukrainian informational tv channels, digital broadcast

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on espresso tv channel informational and analytical marathon 22 minutes after eight khrystyna yatskiv."

the regions of the region are currently quietly recovering from the russian shelling and poltava region will talk about this matter with the deputy of the poltava regional council, igor, about this. glory to ukraine and igor. we welcome you on the air of the espresso tv channel . unfortunately, the connection has been lost. let's remind you that you were in kremenchug recently was fired at by rockets and this led to rampant destruction hitting the amstor shopping center they say they were born in a shirt like a

guardian angel at the moment of a rocket attack on a shopping center that in kremenchuk did not sleep today in the city hospital and inpatient ten wounded, two more were transported to the capital in general, medical assistance was provided to more than a hundred victims, including the heroes of our next story, iryna skripachova will tell in more detail today eva moves on crutches, but she smiles and says that these are small things. the main thing is that she is alive on that tragic day, june 27, she and her friends came to amstur in search of a job and to buy phone accessories, when they were paying at the cash register and an explosion rang out, all the lights went out in an instant, everything started to fly, the first thought was something , anxiety flew in, seven minutes passed, i don't remember yatayu maybe i got hit somehow maybe i lost

consciousness for a moment and i don't remember i remember that the workers started to look for the exit we were the closest to the exit and started to get out the window was broken we went out through the window there they saw a broken pharmacy and they ran out as fast as possible to looking around she ran for the sun on the sc the explosive wave blew off her slipper cut her leg her back and hands were injured her friend nazar was there to carry eva in his arms during the explosion he lost consciousness for a few seconds then came to his senses found his friends all together they left the of the infernal emperor, as we had already left a dangerous, dangerous distance from the shopping center , we saw all the olankas, it was terrifying, what happened, there was a big column of smoke at first, then two minutes later - 5, and everything began to be engulfed in flames. and this

dmytro, he covered his girlfriend dryly because he knew the rules of behavior about a rocket attack, he says that they were told this while studying at the school, there i see that my girl is turning, i see behind her that something is starting to rise, the rest, i'm starting to cover her only well, we sit down and he just throws us away, i cover her with my body, but i feel like shrapnel everything is flying at my back , at arm's distance, nothing was visible, harry's dust, and everything flew out . saw everything burning smoking we were very afraid of suffocation because there was nothing to breathe today, the victims have few people to talk to, even

their relatives, they avoid the constant feeling of fear now with them, but they are happy that they remained alive iryna skripachova from kremenchuk for the espresso tv channel and now on the air of espresso tv channel i hope ihor will work, deputy of the poltava regional council, mr. ihor, we congratulate you glory to ukraine glory to the heroes poltava oblast experienced a very, very difficult moment in its history in this no one needs a war where the aggressor inflicted an insidious attack like this, i would say, a bad blow to the shopping center, the story we all listen to is the wonderful stories of those who survived, unfortunately , not for everyone, the story ended like this, and now every story of the one who died with the one with whom we

saying goodbye to each of these people only adds to her rage, which boils inside and does not allow even to sleep peacefully and live peacefully, those stories where a woman simply did not reach her husband while waiting for transport at a stop, and a girl who had to marry my boyfriend in a day or two after this tragedy and many, many other such cases that happened from this floor let's say so a blow to the center of each of them we remember and for each i think they will take revenge igor i wanted to ask you if you already an understanding is coming. for what purpose did the enemy inflict such a heavy blow on a civilian object? that is, it fits into some

special russian logic regarding the destruction of civilian objects, or are they using tactics for nightmares, in particular, poltava oblast? a simple analysis of what, well, let's go back to that day. the first rocket, the first rocket clearly hit the shopping center, everyone saw it. it was all clear , and the second rocket carried out the arrival area of ​​the plant , which was a little more than a kilometer away, then in the following days, we now see where the training is being attacked institutions schools universities in the city next to us in the city of kharkiv and also on the line of contact so i think this is a tactic quite random tactic of intimidation of the population so that the population