Ukraine’s state budget will cover more than 42 billion – NBU

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It is noted that over 2 billion planned will be transferred to the Ukrainian treasury

Ukraine’s state budget will offset more than 42 billion: where does the money come from. Photo: National Bank of Ukraine

The National Bank of Ukraine plans to transfer $ 42.7 billion in profits to the state budget in 2020. It is more than 2 billion UAH “on Ukraine’s state budget for 2020” set by Ukraine’s law, the NBU website says.

The National Bank of Ukraine’s consolidated financial statements for the past year have been confirmed by an independent external auditor – consulting company Ernst & Young, according to the regulator’s press service. In addition, its final indicators must be approved by the NBU Council. Thereafter, the regulator’s financial statements will be published on the website of the National Bank, and the schedule for transferring the profits to the state budget for 2020 will be agreed with the Finance Ministry of Ukraine.

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Earlier it was reported that the National Bank had deferred the requirement of banks to comply with the stock buffer (preservation) of capital and buffer of systemic importance. The temporary relief came into force on 26 March and is related to the introduction of quarantine and restrictive measures due to Kovid-19.

Read: Credit Holiday for Entrepreneurs and Businesses: State Bank Announces Terms


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