In 2023, the government will pay the NBU more than UAH 80B in bond interest payments.

The National Bank of Ukraine expects to receive UAH 81.7B in coupon payments for military bonds purchased from the Ministry of Finance in 2022 if the discount rate remains at 25%, the bank said.

From this amount, the NBU has already received the first UAH 2.2B, so by the end of the current year, they expect to obtain from the government another UAH 80.5B. Interest received from the government becomes part of the NBU’s income. The regulator’s profit, following the current legislation, is transferred to the Ukrainian budget based on the reporting year’s results.

This year, the OVDP coupons paid to the NBU cannot be returned to the budget before 2024. This year, the government and the National Bank have agreed not to “print” money, as this carries significant risks for the stability of the hryvnia.