While all layers of government will have to be involved in the reforms that facilitate the economic growth of cities, it is the municipal authorities that should be at the forefront of spatial development, the provision of infrastructure, and educational or social cohesion programmes.
In order to bring inflation back to the steady decline trajectory and to maintain exchange rate and macro financial stability amid high uncertainty, the NBU Board decided to keep the key policy rate at 25%. At the same time, the NBU has raised reserve requirements for banks, as it said it would do in December.