Foreigners can open a business and pay taxes in Ukraine online. As the Ministry of Digitization reported, the government adopted a resolution that defines the mechanism for a foreigner to obtain e-resident status online. The tool for paying taxes and reporting for... #ElectronicResidents #foreignersInUkraine #Taxes #бізнесвУкраїні
The US wants to send $1B of seized Russian assets to Ukraine. These are assets that the United States has found and seized in other countries over a year and a half, US Deputy Attorney General Lisa Monaco said. “We detained planes in Switzerland and the Mi... #KleptoCapture #LisaMonaco #RussianAssets #RussianAssetsConfiscation #SanctionsAgainstRussia
Ukraine’s state budget deficit increased to almost UAH 131B in August. The state budget deficit in August 2023 amounted to UAH 130.7B, compared to UAH 107.6B in July, the Ministry of Finance reported. It is noted that cash expenditures in the state budget increased signi... #financeUkraine #financialaidforUkraine #UkraineBudget #UkraineBudgetDeficit #UkraineIncome
The EU and Germany have prepared three grant packages for Ukrainian businesses. The European Union and the German government announced three waves of grants for micro, small, and medium-sized businesses through the EU4Business program on a joint initiative. In particular, the Big... #EU4Business #Grants #GrantsForBusiness #SupportBusiness #UkrainianEnterprises
The Ministry of Finance has announced the main financial indicators for the 2024-2026 budgets. The Ministry of Finance has published instructions for preparing budget requests for the next year. The document suggests setting the dollar exchange rate at UAH 41.4 to $1 for the 2024 state budget p... #dollarexchangerate #financeUkraine #InflationinUkraine #SalaryUkraine #StateBudgetUkraine
Ukraine has fulfilled another IMF beacon: the new Financial Sector Development Strategy. This blueprint for developing the financial sector during the war envisages inflation at a level of less than 15% and possible deviations of the hryvnia to dollar cash rate from the official rate belo... #financeUkraine #imf #IMFStructuralBeacons
The European Parliament discusses the provision of €50B to Ukraine by 2027. According to the Representative of the Committee on Foreign Affairs, Michael Gahler, the new document envisages the combination of Ukraine’s reconstruction process and accession to the EU. Accor... #EUprogramForUkraine #MichaelGahler #SupportUkraine #UkraineRecovery
Budget disputes in the EU threaten further aid to Ukraine. EU funding to support Ukraine is being held back by disagreements between member states, while concerns about strained national budgets and rising spending in Brussels threaten the flow of financial a... #EUprogramForUkraine #financialaidforUkraine #SupportUkraine
Ukraine has eased currency restrictions to strengthen the national currency. As of August 29, banks are now allowed to sell non-cash foreign currency without confirming the grounds or obligations for such a transaction, the NBU reported. The National Bank specified that this a... #CurrencyRestrictions #financeUkraine #nbu
The upward trend in bank deposit rates declined due to the NBU’s reduced key policy rate. Ukrainian banks began to retreat from record high deposit rates on consumer deposits after the NBU beganits discount rate reduction cycle in July, when it was reduced from 25% to 22%, according to ind... #Depositrates #financeUkraine #nbu
The non-bank financial sector in Ukraine is slowly recovering, and credit unions have managed to increase their assets. This has happened for the first time in two years, according to a review of the non-banking financial sector for the second quarter of 2023. The volume of life insurers’ assets during the report... #CreditUnionUkraine #FinancialSectorUkraine #InsuranceUkraine
Ukraine and the EU have passed the second preparation stage for the five-year, €50B program. According to the Minister of Economy, Yulia Svyridenko, at the previous meeting the parties agreed on the structure and distribution of topics. This time, attention was focused on the form in which th... #EUfinancialAid #EUprogramForUkraine #UkraineFacility #YuliyaSvyridenko
National Bank assets increased by 17%, and profit reached UAH 43B. The result of the NBU’s activities, according to the results of the first half of the year, was a net profit of more than UAH 43B ($1.17B), and the bank’s assets increased by 17% to UAH 2.... #financeUkraine #internationalReserves #nbu #NBUassets
The Ukrainian Parliament has proposed a new tax for banks, providing UAH 10B to the budget. The parliament’s tax committee is preparing a draft law that allows for additional taxation of net interest income or excess bank profits. “Most likely, the new law will come into effect i... #DanyloHetmantsev #ReformsinUkraine #TaxesinUkraine #UkraineBanksProfits
The Biden administration is convinced that Congress will approve additional aid for Ukraine. US Presidential adviser Jake Sullivan indicated that additional funding for Ukraine will be secured despite the refusal of some Republicans in the House of Representatives. “Both in the House of... #JakeSullivan #USaidforUkraine #UScongress
The popularity of microcredits is growing in Ukraine. As well, there is a decrease in the average loan amount, reported Opendatabot. In the first half of the year, 3.8 million microloans were issued for a total of UAH 18.4B. For comparison, in 2022 Ukrai... #financeUkraine #LoansUkraine #MicroCrediting
The EU continues working on a €50B multi-year plan of Ukrainian support, European Council President Charles Michel said at the third summit of the Crimean Platform. He emphasized that the EU stands by Ukrainians in their battle for freedom. “Russia’s brutal att... #AssociationwithEU #CharlesMichel #CrimeaPlatform #EUsupportforUkraine
The processing industry has become the leading budget contributor. Through the first seven months of the year, the industry paid 17.1% of taxes and fees collected from enterprises across all sectors, the Tax Service reported. Also, processing companies showed the hig... #DanyloHetmantsev #GamblingBusinessInUkraine #TaxesToTheBudget #TaxesUkraine
Ukraine received another €1.5B in macro-financial assistance from the EU. As the Ministry of Finance reports, this is the seventh tranche within the framework of the EU’s large-scale macro-financial assistance program with loan repayment in 35 years. As well, the EU w... #EUfinancialAid #EUtranche #UrsulavonderLeyen
The US will appoint an inspector to monitor financial aid to Ukraine. Members of the Republican Party in the US Congress may ask for an inspector to be appointed to oversee the funding of aid to Ukraine to “prevent corruption”. This situation develops soon a... #FinancialAidAudits #financialaidforUkraine #JoeBiden #USaidforUkraine #WarinUkraine
Ukraine is technically ready for the first international exchange of tax information. As reported by the Ministry of Finance, the development of software for the State Tax Service of Ukraine (DPS) has been completed, which will provide an international automatic exchange of information... #CRS #InformationExchange #UkraineTaxSystem
The US State Department has urged Congress urgently to allocate an additional $24B to Ukraine. According to US Secretary of State Antony Blinken, Congress should immediately approve additional funding for military, economic, and humanitarian aid to Ukraine. He also assured the Ukrainian people ... #AnthonyBlinken #JoeBiden #USaidforUkraine #UScongress
The EU will transfer €135M to Ukraine that had been intended for Russia and Belarus. As reported by the European Commission, the €135M had been allocated to finance the Interreg NEXT programs with Russia and Belarus during 2021-2027, but it was decided to transfer the funds to Ukraine... #EuropeanCouncil #financialaidforUkraine #InterregNEXT
British companies risk their accounts being closed due to trade with Ukraine. Since part of Ukraine is occupied by the Russians, the British banks HSBC, Santander UK, and others may over-insure and close business accounts, explaining this by the need to comply with sanctions ag... #AndrewGriffith #BateToms #SanctionsAgainstRussia #SantanderUK
Ukraine is in the top five world leaders for contactless payments. For the past five years, Ukraine has consistently been among the top ten countries regarding the number of NFC payments. As noted by Mastercard, the share of payments with smartphones and NFC devices ... #DigitalizationOfUkraine #financeUkraine #mastercard #nbu #NFCpayments
The yield on deposits in Ukraine is growing, and lending is recovering. In the second quarter, due to the NBU’s measures, banks will continue to increase interest rates on time deposits. According to the bank, on average, the return on a three-month individual depos... #CreditPortfolio #DepositsinUkraineBanks #financeUkraine #LendingInUkraine #nbu
A Polish logistics company has transferred €100M worth of assets from Russia to Ukraine and is investing €250M in the economic exchange program between Ukraine and the EU. As the company reported, the transferred assets were all previously located in Russia and the countries of Central Asia. Among other things, the transfer included 510 specialized railway platforms and... #InvestmentsinUkraine #Laude #UkrainianRailways
Germany is ready to allocate €5B every year to support Ukraine. Minister of Finance Christian Lindner shared the German government’s plans during his visit to Kyiv. However, the government’s decision must be approved by the Bundestag. Note that the par... #ChristianLindner #financialaidforUkraine #GermanyAidforUkraine
Dragon Capital is considering buying the nationalized Sense Bank. According to the CEO of Dragon Capital, Tomas Fiala, the company is studying the possibility of acquiring the bank if Ukrainian authorities decide to sell it. Bloomberg notes that after the nationaliz... #DragonCapital #SenseBank #TomasFiala #UkraineStateBanks
What consumer prices and dollar exchange rates do Ukrainians expect? According to the NBU, both financial analysts and the public expect a slowing trend to the growth of consumer prices. Financial analysts in July predicted that inflation would be 12% over the next 12 ... #currencyexchange #dollarexchangerate #Hryvnia #InflationinUkraine #nbu
Ukraine’s energy regulator plans to resume debt repayments to clean energy producers. The National Commission for Regulation of the Energy Market has approved changes to a resolution approving legal acts that regulate the activities of the Guaranteed Buyer and the purchase of electrici... #GreenEnergyUkraine #GuaranteedBuyer #UkraineENergySystem #Ukrenergo
The German finance minister arrived in Kyiv for the first time since the beginning of the war to discuss support. The Prime Minister of Ukraine, Denys Shmyhal, discussed with the German Finance Minister, Christian Lindner, the prospects of Ukraine’s cooperation with the Credit Institution for Reconstruction... #ChristianLindner #DenysShmyhal #GermanySupportsUkraine #KfW
The parliament talks about future tax changes in Ukraine. As part of their work on the National Revenue Strategy up to 2030, the Committee on Finance, Tax and Customs Policy is preparing proposals for changes in five priority areas of taxation, said the head... #DanyloHetmantsev #TaxesinUkraine #UkraineTaxSystem
The National Bank is easing currency restrictions in Ukraine. The NBU introduced additional measures to prevent unproductive outflow of capital from Ukraine and ensure the foreign exchange market’s stability. Thus, from August 12, 2023, the NBU will introd... #CurrencyRestrictions #financeUkraine #nbu
Ukrainian Eurobonds rose by 50% against investors’ optimistic expectations. According to the FT, dollar-denominated bonds maturing in September 2025 are now trading at 31 cents on the dollar, compared to 20 cents in early June. Other foreign currency bonds also recorded simil... #UkrainebondsMarket #UkrainianDebt #Єврооблігації
The EBRD has given the Ukrainian state bank a €60M financing guarantee for Ukrainian business. PrivatBank and the European Bank for Reconstruction and Development have started cooperation on a risk-sharing program. As part of the program, Ukrainian entrepreneurs from critical industries will re... #ebrd #GrantsForBusiness #PrivatBank
Ukraine, with the US’ support, will conduct an audit of American financial aid. The Accounting Chamber and partners from the US have organized two audits of the US’ direct budget support to Ukraine, according to a relevant document from the Accounting Chamber. It is noted t... #FinancialAidAudits #UkraineBudget #USAID #USfinancionaidforUkraine
In 2024, military expenditures will remain at this year’s level, as will the need for continued international support, noted Finance Minister Serhiy Marchenko. Next year Ukraine will need more than $40B in international aid. Ukraine needs $42B in foreign financing ... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget #UkraineBudgetRevenue
During the first half of the year, Ukrainian banks generated record profits. The National Bank of Ukraine reported that banking organizations earned UAH 67.6B ($1.85B) in six months, the National Bank of Ukraine reported. Net operating profit before deductions to reserves incr... #nbu #UkraineBanksProfits #UkrainianBanks
What does the Ukraine Plan envisage under the EU €50B program? Deputy Minister of Economy Oleksiy Sobolev said that the plan is a comprehensive document that will become the state’s program of recovery and economic development for the next four years. Initi... #EUprogramForUkraine #OleksiySobolev #UkraineFacility #UkraineRecovery
Ukrainian businesses will receive up to €4,000 in micro-grants from EU4Business. 750 companies will receive funds within the framework of the EU4Business program, financed by the EU and the German government. The funds can be used to purchase equipment and raw materials, and to pa... #EU4Business #GrantsForBusiness #бізнесвУкраїні
The National Bank expects the state budget deficit to grow next year. In July, the regulator lowered its forecast for this indicator to 16.8% of GDP. Thus, considering grants, it is predicted that the consolidated budget deficit will reach UAH 1.28T. In the April report... #GDPinUkraine #nbu #UkraineBudget #UkraineBudgetDeficit #UkraineEconomy
Since the war, Ukraine has received a record $66.2B in aid from the US. The military and humanitarian financial aid from the US is the largest single source of aid from an ally of Ukraine. Experts see this amount as a large-scale investment in a US ally that has not been ... #USaidforUkraine #USsupportsUkraine #WarinUkraine
Ukraine’s state budget this year is funded with the allies’ help. According to the Ministry of Finance, the 2023 Ukrainian budget is largely financed by military bonds, loans from international financial organizations, bilateral loans, and grants. So, as of August 4... #financialaidforUkraine #FundingUkraine #UkraineStateBudget
The key policy rate in Ukraine will decrease to 18%. Seven members of the Monetary Policy Committee of the National Bank expect a reduction in the discount rate to 18%-19% at the end of 2023. They are convinced that considering the expected decrease in ... #financeUkraine #KeyPolicyRate #nbu
Interest rates on deposits in the national currency are rising in Ukraine. In June, after the NBU announced the possibility of lowering the key policy rate, rates on retail deposits of various maturities continued to grow. The weighted average rate on new consumer deposits i... #DepositsInterestRate #financeUkraine #HryvniaDeposits #nbu
The European Parliament will vote on a new €50B EU program for Ukraine. At the end of November, the European Parliament plans to vote on the final text of the new Mechanism to Support the Recovery, Reconstruction, and Modernization of Ukraine, and the first disbursement s... #EUprogramForUkraine #financialaidforUkraine #ViolaVonCramonTaubadel
PrivatBank increased its six-month net profit by almost 400%. The state-owned PrivatBank’s net profit for January-June 2023 amounted to UAH 29.75B, which is 370% higher than the figure for the same period in 2022. According to a PrivatBank report, in the s... #PrivatBank #PrivatBankProfits
Ukrainian-founded crypto exchange platforms lead to billions in losses for the state budget. In the last ten years, the state budget has not received at least UAH 3B in taxes from crypto exchange activities, whose operations have not yet been regulated in Ukraine, said the Economic Security B... #BureauofEconomicSecurity #CryptoExchanges #TaxesUkraine
Ukraine expects at least $37B in international aid in 2024. In 2023, Ukraine expects $42B in international assistance, and next year it expects at least $37B, said the head of the NBU, Andriy Pishnyi, during an interview for ICTV. He says Ukraine’s budge... #AndriyPishnyi #financialaidforUkraine #nbu #UkraineBudget #UkraineBudgetRevenue
