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Poroshenko signs Currency Act

The Act provides cancellation of control of operations below $6000
19:10, 12 March 2018

Youtube Presidential Administration

President of Ukraine Petro Poroshenko said he introduced a Currency Bill in the Verkhovna Rada at the meeting with business representatives, 112.ua reports.

“If you do not mind, I will sign the Bill and introduce it in the Parliament. It requires more signatures, but I will do it later,” he said.

He stressed that the liberalization process will not be introduced in one day.

Related: Ukraine asks EU to refuse from Nord Stream 2, - Poroshenko

“There is a need to synchronize it with financial stability deliver. Yet, I emphasize, that business and citizens will notice innovations right away after the adoption of the act. The currency control of operations below the threshold less than $6,000 will be canceled, the currency control of more than 40% of operations out of the total number was canceled. One does not have to register loans from non-residents. Such painful punishment as the slowdown of internal economic activity is removed. Internal investments under limits will not require individual license,” the President said.

Related: Poroshenko calls Membership Action Plan for NATO the next goal of Ukraine

Earlier, the National Reform Council examined and approved the Currency Bill, prepared by the National Bank of Ukraine on March 2. The new Bill provides the introduction of gradual and flexible liberalization in Ukraine’s currency market, the capital and other currency valuables flow, and liquidates the slowdown of external economic activity.

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