Social and Legal Studios

Abstract

The purpose of the article: to study the current state and dynamic of the development of industry in Ukraine; on the basic of modern principles of development of the monetary policy of the NBU, to determine the leverage of their influence on the industrial recovery of Ukraine and to propose new mechanism and tools for supporting the industrial complex of Ukraine. In the modern world industrial industrialization becomes the main engine of global development. However, for its realization in a post-crisis situation, the first task is to develop a capable monetary policy that stabilizes the financial and credit sphere, activities industrial development and economic growth. Therefore, the current state of Ukrainian industry and the NBU monetary policy are relevant to the development of a common strategy for the development of the national economy. The research revealed that, at the present stage, the role of the processing industry in creating the country’ s GDP is insignificant, indicating signs of technological decline and backwardness. This leads to the transformation of Ukraine into a sustainable agrarian and raw material economy for highly developed countries. Negative trends in the development of industry also reflected in the structure of exports and led to the need for significant import of goods. The largest share in Ukrainian exports in 2017 belonged to products of the agro-industrial complex (41.3%) and metallurgical complex products (23.0%). Under the conditions of preserving the existing structure of production and export, the potential growth of the Ukrainian economy will not be able to exceed 3% per year, which, in the face of the economic downturn, has been a preservation of stagnation. Therefore, it’s extremely necessary to review the directions of monetary policy and resume lending to business entities, which will intensify their investment activity and ensure the growth of the national economy as a whole. To do this, it’s necessary: to stabilize the banking system, reduce the volume of bad debts, strengthen the protection of consumers and creditors, etc. However, neither the Government not the National Bank of Ukraine not presents a systematic strategic vision nor an integrated set of a actions aimed at overcoming the credit crunch and accelerating economic (industrial) growth. It’s necessary to develop a joint strategy of actions, the realization of which would allow getting synergistic effects – a powerful domestic banking system and a high-tech industrial economy. This will ensure a steady accelerated growth of the economic power of the country on the basic of increase of employment of the population and its welfare, and therefore social-political stability and national security

Keywords: monetary policy, stabilization, loans, industry, industrialization, export

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