Economy 2022-11-15T05:00:19+02:00
Ukrainian news
Planned Payments Of UAH 1,000 To Each Person Vaccinated Against Coronavirus Will Not Affect Inflation - NBU

Planned Payments Of UAH 1,000 To Each Person Vaccinated Against Coronavirus Will Not Affect Inflation - NBU

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NBU, President, inflation, Volodymyr Zelenskyy, unvaccinated persons, UAH 1000 for vaccinated

The National Bank of Ukraine (NBU) informs that the planned payments of UAH 1,000 to each person vaccinated against coronavirus will not affect inflation.

Ukrainian News Agency learned this from a statement of the NBU with reference to the deputy head of the regulator Serhii Mykolaichuk.

This week, an initiative to pay UAH 1,000 to vaccinated citizens was announced.

“A thousand hryvnia is not the amount that could significantly stimulate consumer demand. Besides, the industries for which, as the Government envisages, these funds will be allocated, suffer from underutilization. It is unlikely that additional demand will lead to a significant increase in prices. Even if prices in the field of culture and sports will grow by 5-10%, this will insignificantly affect the general inflation rate, since the share of these services in the consumer basket is insignificant," press service quotes Mykolaichuk's as saying.

According to NBU estimates, the impact on the economy of the UAH 6 billion program over a 12-month horizon could amount to 0.1-0.2% of GDP.

However, if the project leads to additional vaccination of even 10% of the population, it can be considered very effective, because the economy benefits from the absence of lockdowns much more than from a direct fiscal stimulus from the state.

As Ukrainian News Agency earlier reported, Prime Minister Denys Shmyhal said that taxes will not be levied on the planned payments of UAH 1,000 to each person vaccinated against coronavirus.

On November 15, President Volodymyr Zelenskyy announced the payment from December 19 of UAH 1,000 to each person vaccinated against coronavirus in two doses.





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