Government proposes 90-day term on returning currency income

15:21, 02.03.2015 1 min read

The Cabinet of Ministers of Ukraine has proposed that a maximum 90-day limit on returning currency income to the country is introduced.

According to a post on the parliament's website, government's draft law No. 2265 was registered in the parliament on March 1.

"The issue of reducing the upper limits for sending income of residents in foreign currency to their currency accounts at banks and postponing supplies for imports transactions from 180 to 90 days is very urgent… The adoption of the law will promote the stabilization of the exchange rate and price fluctuations, increase currency income and the improvement of Ukraine's balance of payment," reads the explanatory note to the bill.

The bill proposes that individual licenses be obtained from the National Bank of Ukraine (NBU) if the term expires, and that conclusions from the central executive power realizing state policy in economic development be abolished.