The Cabinet of Ministers of Ukraine plans to launch from August 24 a program of monetary support for buyers of Ukrainian goods, known as cashback. About this reported People’s Deputy Yaroslav Zheleznyak.
According to the report, the government will allocate 3 billion hryvnias in 2024 and 6 billion hryvnias in 2025 for the implementation of this program. Cashback payments to Ukrainians will be made by the state-owned Oschadbank.
The resolution states that the introduction of cashback should contribute to the growth of Ukraine’s GDP by 0.25%. Cashback will be 10% of the cost of Ukrainian-made goods, with a minimum payment amount of 2 hryvnias and a maximum of 3,000 hryvnias.
Received cashback funds can be spent on utilities, food, bowling, restaurants, educational services, and other needs.
What is known about the cashback program for the purchase of Ukrainian goods
The presentation of the cashback program took place in February 2024. It is part of the All-Ukrainian economic platform “Made in Ukraine”, the purpose of which is to stimulate demand for Ukrainian goods and support national production. The start of the program is planned for 2024, and the cashback is promised to be tax-free.
During the presentation of the program, the First Deputy Prime Minister – Minister of Economy Yulia Svyridenko noted that in order to win the war and build a strong economy, Ukraine needs to focus on its own production. The government is introducing a new “Made in Ukraine” state policy, which includes several areas of business development, including stimulating demand for Ukrainian goods, attracting investment in the real sector, developing industrial infrastructure, and supporting non-raw materials exports. 45 billion hryvnias are allocated to these programs in the state budget, which should ensure an additional 1% of GDP growth
