The accrual of cashback under the “Buy Ukrainian” program will be similar to “eSupport”
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The accrual of cashback under the “Buy Ukrainian” program can be similar to the “eSupport” service, when Ukrainians received funds for a virtual card from the bank.
About this writes Forbes
According to Daria Zarivna, adviser to the head of the OP, the mechanism will initially be similar to the one with the “eSupport” card, that is, it can be a virtual card in the bank. It will be possible to spend the funds exclusively on goods produced in Ukraine, adds the interlocutor in the government.
In addition, the main issue of implementing the program is attracting appropriate funding for it. Since the budget funds are already insufficient to cover the costs of the war and social payments, one of the painless options for the Ukrainian economy may be the attraction of international aid.
Closing the additional needs of the state budget by printing money may be a bad option, but this will mean an increase in the money supply, which will accelerate inflation.
According to the senior economist of the Center for Economic Strategy Yuriy Gaidai, theoretically, “cashback” can really increase tax revenues to the budget, stimulate import substitution and, accordingly, improve the situation with the balance of payments, reduce pressure on the hryvnia and gold and foreign reserves.
Also, this program can stimulate Ukrainians to choose domestic products.
In general, the concept includes several levels: The first is demand from the state through localization, the second is the purchase of Ukrainian goods by international donors, and the third is the stimulation of commercial demand.
We will remind:
Within the framework of the new state cashback program “Buy Ukrainian”, citizens of Ukraine will be able to receive compensation for part of the payment for goods and services produced in Ukraine.
Government confirmed the image of the trademark for goods manufactured in Ukraine – “Made in Ukraine”, it can be used free of charge by businesses, public organizations and state institutions.
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