OREANDA-NEWS  On 28 November was announced, that the meeting of business community took place in Lviv Business School of Ukrainian Catholic University (LvBS); the topic of it was Financial crisis. Problem value. The meeting took place in the Open House format.

As LvBS director Sophia Opatska emphasized: "Discussing of problems, related to the problem of financial crisis, lasts for a few months already on the columns of Ukrainian business editions. However it was not conducted a single event, devoted to this problem, in Lviv. LvBS took responsibility for the organization of the open event for the representatives of business community, and invited to appear tutors of the Business School and practical businessmen for presentation of different viewpoints on the problem of financial crisis".

Yaroslav Prytula, an associate professor of department of international economic analysis and finance of Ivan Franko National University of Lviv and a teacher of LvBS MBA program, appeared with a lecture Financial crisis 2008, reasons and consequences. In his appearance Mr. Prytula gave the deep review of events and reasons, which provoked nowaday's crisis in the world, and particularly in Ukraine. As Yaroslav Prytula marked: "The large bubble, which appeared because of the use of derivatives, lies in the basis of financial crisis. Prices grew because of euphoria of large earnings at the market of real estate, bad risk management of banks, and low interest rate. As a result, the world got the overheated economy. When time to pay bills came, actually there was no money. Today in the conditions of crisis everybody begins to save and reorient itself to the internal market that is why it is extraordinarily important to realize that a crisis is the possibility to begin the business growth inside the country. It is also a good case to begin to think about quality of life and to revise the indexes of quality measuring".

In his appearance entitled Macroeconomic situation in Ukraine: the state and prospects Andriy Khudo, the member of Board of Directors of Concern Galnaftogaz, and the member of Board of Directors of LvBS, shared with the results of researches and analyses, conducted by Universal Investment Group for prognostication and planning of Concern Galnaftogaz business and business of other companies of the group, with the participants of meeting. By the estimates, in 2009 growth of real gross domestic product will reduce to 5%, an inflation rate will exceed 20%, and a trade balance deficit, which is USD 14 billion now, will exceed USD 20 billion. The rate of exchange to the end of 2008 will fix approximately on the mark of 6 UAH/USD, but can attain 6.8 – 7.5 UAH/USD in 2009. The financial crisis can last for three years, although there is a forecast that the bottom of financial crisis will pass in 2009.

"The next year will become the year of bankruptcies, – Andriy Khudo marked, – a lot of little banks, retailers, and also companies, which did not take the credit obligations seriously, and only refinanced it by their credits of next years, have large chances to inform a market about their bankruptcy".