2018-12-27T17:51:00+02:00 Economy 2023-05-15T08:21:44+03:00

Ukrainian news

Ukrainian news

Cabinet Approves Mechanism For Monetization Of Housing Subsidies

Cabinet Approves Mechanism For Monetization Of Housing Subsidies

The Cabinet of Ministers has approved the mechanism for providing housing subsidies in monetary form.

The relevant resolution was adopted at a government meeting on Thursday, the Ukrainian News Agency reports.

"The draft resolution stipulates that from January 1, 2019, cash subsidies will be provided to those households that are applying for it for the first time," Minister of Social Policy Andrii Reva said while presenting the document.

According to the minister, subsidies will be paid directly into the recipient's personal bank accounts and the money will used only for utility payments.

As Ukrainian News Agency earlier reported, the Memorandum of Economic and Financial Policies that Ukraine signed with the International Monetary Fund as part of the fund’s new loan program for the country for the period of 2018-2020 provides for monetization of subsidies from January 2020.