Ukraine plans to ban the use of cash to purchase expensive goods, such as real estate, cars and premium home appliances. The corresponding draft law, which has already passed the first reading, provides for the introduction of a limit on cash payments, which will be established by the National Bank of Ukraine (NBU).
The purpose of these changes is to bring the significant savings of Ukrainians out of the shadows, because, according to experts, tens of billions of dollars are kept by citizens at home. Such restrictions are aimed at making large purchases available only through bank cards or non-cash payments.
However, experts note that the initiative may cause resistance. Viktor Chumak from the Institute of Public Policy believes that the established limit can be about 20 thousand hryvnias, but it is possible to adjust it so as not to affect everyday purchases. He also notes that the transition to cashless payments will help track sources of income, especially among officials who buy expensive cars and real estate.
Lawyer Oleksiy Khristoforov emphasizes that limiting cash payments can lead to the search for shady schemes, as many Ukrainians, accustomed to keeping funds at home, continue to distrust banks.
