The Council of the National Bank of Ukraine (NBU) points out growing risk of stability of the national currency, as the government and local authorities have accumulated large amounts of unspent money.

"The Ukrainian government has accumulated record hit ending stocks on the treasury account at the NBU. The funds of local budgets continue be placed on banks' deposits, instead of expanding investment into the real economic sector. Taking into account the current state of the monetary and credit market, spending of these funds in the short period of time as it was done traditionally at the end of the year, could have larger risks for stability of the national currency of Ukraine than in the previous years," the council said after a meeting on October 31, 2017.

The NBU said that as of early October 2017, the government's funds on the treasury account grew to UAH 60 billion from UAH 13.5 billion as of early October 2016.

The NBU Council said that the state of the monetary, credit and currency market, liquidity of the banking system and its key factors of influence should be thoroughly monitored. Coordination of the monetary, credit and budget policies should be strengthened not to allow a sharp rise in supply of money and inflation risks.