The Ukrainian government has approved a new "National Cashback" program, which will provide citizens with a 10% refund on purchases of domestically produced goods. The program, which begins on September 2, 2024, aims to stimulate the economy by encouraging the purchase of Ukrainian-made products.
The launch will occur in two stages:
Registration: Manufacturers and sellers can apply to participate in the program through the Diya portal, where they will register their products.
Consumer Participation: Ukrainian citizens will be able to open special accounts to receive cashback, which they can track and manage through the Diya app.
The cashback funds, capped at 3,000 hryvnias per month, can be used for a variety of services, including medical expenses, utility bills, sports, cinema tickets, train travel, or donations to the Armed Forces of Ukraine. The program specifically targets Ukrainian-made goods, including medicines and medical products, but excludes excise goods.
This initiative follows the "Made in Ukraine" program, which has already seen more than 26 million product items labeled as domestically produced.
The National Bank of Ukraine is closely monitoring the economic impacts, including the potential effects of exchange rate fluctuations and tax increases on price stability.
