Solutions from Ukraine: government implements program for cashback on buying Ukrainian products
Photo: Reuters
The government of Ukraine has approved a resolution called the "Experimental Project on Providing State Aid to Buyers of Ukrainian-made Goods and Services," more commonly known as cashback for purchasing Ukrainian products.
People's deputy Oleksii Honcharenko reported this.
What is the problem?
In February, President Volodymyr Zelensky announced that the government was working on a state cashback program called "Buy Ukrainian." This program will allow Ukrainian citizens to receive refunds for some of their payments for goods and services made in Ukraine.
According to him, the task of this program is to "keep Ukrainian money in Ukraine and work in Ukraine."
"These are taxes, these are the salaries of our soldiers, these are the capabilities of our state, including defense. The parameters of Ukrainian cashback are already being prepared: financial and technical," the president emphasized.
He added that work is ongoing on other state programs that will allow the domestic manufacturer to scale up its work. These programs involve government grants, loans, production stimulation, demand through Ukrainian cashback, and assistance in foreign markets.
Then Zelensky instructed the government to develop practical steps to support Ukrainian enterprises, including developing the Ukrainian cashback program "Buy Ukrainian."
What is the solution?
On August 20, the Cabinet of Ministers [Ukraine's government – ed.] approved the resolution on the "Experimental Project on Providing State Aid to Buyers of Ukrainian-made Goods and Services."
How does it work?
According to Oleksii Honcharenko, the implementation of this resolution is planned from August 24 to December 31, 2025. The
government will provide funding for this project:
- in 2024, a total of 3 billion hryvnias will be allotted,
- and in 2025, another 6 billion will be allocated.
Yes, for the purchase of Ukrainian-made goods, the buyer will be able to receive a cashback of 10% of the cost of the goods.
The cashback amount for one buyer cannot be less than UAH 2 and cannot exceed UAH 3 thousand.
For reference:
As Rubryka previously reported, it is worth noting that in January, the president signed a decree creating the All-Ukrainian economic platform "Made in Ukraine."
It must serve as a platform for promoting effective communication and collaboration between government and businesses, driving entrepreneurial activity among Ukrainian manufacturers, boosting the visibility and growth of Ukrainian products, enhancing the investment environment, and facilitating the recovery, modernization, and expansion of the Ukrainian economy, while also encouraging the repatriation of Ukrainian citizens from foreign countries.
The newly created platform itself will function under the patronage of the president.
