Ministry of Economy of Ukraine
Government cancels restrictions on payments for imported services
15.05.2024 | 17:42 | Section for Public and Mass Media RelationsThe Government has cancelled restrictions on payments for the import of works and services. The decision was made at a meeting of the Cabinet of Ministers on 7 May.
“Today’s decision will have a positive impact on the development of the private sector in Ukraine. Currency liberalisation will allow Ukrainian businesses to develop, enter new markets and increase exports. At the same time, it is an opportunity to attract investments more actively, as currency restrictions were a deterrent for many private sector representatives before entering the Ukrainian market,” Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine, commented.
She also reminded that the Ministry of Economy had been advocating for the lifting of the currency restrictions from the very first day of their introduction and had been holding discussions with the National Bank of Ukraine on this issue. According to the First Deputy Prime Minister, further liberalisation steps are being worked on, including extending the deadlines for payments.
According to the Government’s decision, the Resolution of the Cabinet of Ministers of Ukraine, which introduced restrictions on payments for imports of goods and services in connection with the introduction of martial law in Ukraine (Resolution No. 153 dated 24.02.2022), was cancelled.
As a reminder, on 3 May the National Bank approved a package of measures to ease foreign exchange restrictions for companies, including the removal of all foreign exchange restrictions on the import of works and services; the ability to repatriate dividends on corporate rights or shares accrued abroad based on the results of operations for the period starting 1 January 2024, with a monthly limit of up to EUR 1 million; the ability to transfer funds abroad for the settlement of lease/rental agreements without additional restrictions on the subject matter of the lease/rental agreement and the date of the agreement; simplification of the conditions for residents to acquire foreign currency for the servicing and repayment of “new” foreign loans.
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