Hetmancev Proposes to Abandon 'National Cashback' for Business Lending
Prefer us on GoogleThe Chairman of the Parliamentary Finance Committee, Danilo Hetmancev, has proposed to abandon the 'National Cashback' program and redirect the freed-up funds towards business lending under the '5-7-9%' program and expanding military risk insurance. In an interview with 'RBK-Ukraine', he noted that there are up to 50 billion UAH in the budget that are not being utilized by the government. Hetmancev pointed out the issue of inefficient spending, as funds for every fifth program were not approved by the Ministry of Finance. He believes that cashback provides insufficient economic results, with its effect on GDP being only 0.1%. Hetmancev characterized the program as a 'populist mistake' that should be abandoned in order to redistribute funds to support Ukrainian businesses. He also mentioned the support for entrepreneurs advocating for the reallocation of funds from 'National Cashback' in favor of lending.
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