Temporarily free budget funds can be put on deposit accounts in foreign currency

12:13, 11.01.2018 1 min read

Temporarily free budget funds of Ukraine's single treasury account can be put on deposit accounts in foreign currency.

The Cabinet of Ministers adopted a respective resolution at a meeting on Thursday, January 11.

Until now, Ukrainian legislation envisaged that budget funds could be handled as assets in the national currency only.

Expert conclusions attached to the draft resolution available to Kyiv-based Interfax-Ukraine news agency say the measure is designed to use budget funds more efficiently, taking into account the need for foreign currency, the situation with the balance of payments, the budget deficit, the situation with servicing foreign debt and minimizing the risks of forex fluctuations.