Loans at 5% Per Annum in Ukraine

by Roman Cheplyk
Thursday, December 2, 2021
Loans at 5% Per Annum in Ukraine

Speaking at the Verkhovna Rada, Ukraine's main governing body, on December 1, the president of Ukraine said that the economic situation in the country stabilises

“Despite the global pandemic, we have stabilized the economic situation. In 2021, GDP will hit a record high for the first time, surpassing $190 billion. This is more than in the pre-crisis 2008 and 2013. For the first time since 2013, we will reduce the national debt to below 50% of GDP. Despite the fact that recently it has been growing rapidly in other countries. Our gold and foreign exchange reserves have grown and today amount to $30 billion. This is the highest figure since 2013,” the president said.

According to him, for the first time, the lending rate for small and medium-sized businesses fell below 10%, and the Ukrainian business received more than $2.56 billion.

“We are launching the Ukrainian Dream program, in which every citizen of our country who honestly pays taxes can get a loan at a rate of 5% in hryvnia to buy their own real estate, an electric car, and get an education or change their profession,” Zelenskyy said.

The government has previously made changes to the Affordable Mortgage 7% program that potentially expands opportunities for those who want to take advantage of it. Thus, it included individual entrepreneurs with an annual income of up to $1.8 million.

The new conditions will allow such small entrepreneurs to receive unsecured loans in the amount of up to $36.600. with their compensation by the state to the rate of 12%. Real estate market participants estimate that the new conditions may increase the number of loans by 10-15%.


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