The Council of the National Bank of Ukraine (NBU) recommends to the Cabinet of Ministers and NBU board to consider the possibility of issuing government domestic loan bonds to support economy development projects sustained from the special fund of the national budget.

"[The NBU Council recommends] to consider the issue of targeted government securities or government-guaranteed securities for concrete projects pointing out the purpose of the issue," the NBU Council said in its decision made on October 31 and published on November 14.

According to the document, three out of 14 paragraphs of the recommendations contain recommendations to issue targeted government bonds for concrete projects

The published NBU Council's decision the council also considers it necessary to replace the public debt in foreign currency with borrowings in the national currency and issue more long-term bonds.

In terms of granting government guarantees, the council also recommends giving priority to development projects "consistent with strategic state targets and supported by international financial institutions."

The NBU Council also recommended the revision of the budget deficit trajectory downward, the identification of ways of switching to the decentralization policy of attracting debt funds in the domestic market with the expansion of the rights of local authorities.

The document also contains an item on the need to develop a plan for the NBU to leave PJSC Clearing Center for Servicing Agreements on Financial Markets (Kyiv) as a shareholder and transform this bank, which on a monopoly basis provides for clearing transactions with securities, to a non-bank financial institution.