Article

Василенко, О.І.

Шклярук, А.В.

The article proves the practicability of applying the inflation targeting as a tool for the Ukrainian financial security enforcement based on the international experience. It shows the structure of the Ukrainian national security system and the financial security as a separate part of the economical one. The authors analyses the changes in the inflation rate and per capita income for the last ten years. The authors have researched the results and the consequences of the inflation targeting implementation in Poland, Hungary and the Czech Republic. It is reported that according to the analysis of the European countries, the benefits of the inflation targeting implementation in Ukraine can be the next: the decrease in the inflation expectations of the population, their cooperation with The National Bank of Ukraine, providing the flexible exchange rate policy of the central bank, creating favorable conditions for the development of all the economy sectors. The following conclusion is drawn: from the foreign countries practice the inflation targeting is essential for the economy recovery. The implementation of the inflation targeting will give the first results on the financial security improvements not in two or five years. Because of the present inflation rate and economical conditions the positive results can be expected in 10 or even 15 years. The article justifies the influence of the inflation targeting on the financial security and practicability of this financial tool applying to the Ukrainian economy. It is proved that the inflation targeting implementation could be the main reason for the inflation rate decrease only in the case of quality changes in economical, financial, political and social fields of the national economy.

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