National Bank Satisfied With Current Level Of Foreign Exchange Earnings Returning To Ukraine

2025-09-11 03:09:30

(MENAFN- UkrinForm) The relevant statement was made by National Bank of Ukraine (NBU) Deputy Governor Yuriy Heletiy at a press briefing, answering a question from an Ukrinform correspondent.

According to Heletiy, the regulator has always focused on the return of revenue, as it directly affects the market, primarily in terms of foreign currency supply, as well as the country's gold and foreign exchange reserves.

“In autumn 2023, we initiated a discussion on the issues of returning foreign exchange earnings by the agricultural sector. Together with colleagues from the Government and the Verkhovna Rada, we developed an export support mechanism that proved to be extremely successful. According to last year's results, the return of earnings to Ukraine increased by almost USD 8 billion compared to 2023. Speaking of 2025, the dynamics of export earnings is stable and meets last year's indicators,” Heletiy noted.

The above indicates the effectiveness of financial monitoring, active work with banks, where there is an overrun in the terms of the return of revenue, or cases of non-return of funds received from foreign economic operations by businesses, closure of accounts, etc.

“We have amended the regulatory framework regarding the closure of foreign currency supervision and prohibited its closure in a number of cases with regard to export-import operations. This has also contributed to the return of revenue and made it impossible for businesses to abuse it. Information exchange between the National Bank, the State Customs Service and the Tax Service has also been improved. This work must continue, we are actively monitoring the situation and understand which sectors need special attention,” Heletiy concluded.

A reminder that, since December 1, 2024, Ukraine had introduced an export guarantee mechanism - a regime for certain agricultural goods that requires exporters to be registered as VAT payers, prepare tax invoices for customs declarations, and ensure the return of foreign exchange earnings to the country, which allows for a zero tax rate. This mechanism is aimed at combating tax evasion and ensuring the inflow of foreign exchange to Ukraine.

Photo: NBU

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