Alena Degrik, the gradual abolition of currency restrictions in Ukraine makes the economy more open

Алена Дегрик: постепенная отмена валютных ограничений в Украине делает экономику более открытой

Today, the media actively discussed the new system of currency regulation. It is provided by the law “On currency and exchange transactions” and includes 8 major orders. They come into force on 7 February 2019 and replaces the less efficient the work of 56 regulatory documents, responsible for regulation. Such a radical document did not remain without attention of the experts of the national scope of payment acceptance. Your comment gave and Director of FC “Leogang a Drink Alena Degrik Shevtsova.

 “Less than a month firenock will receive a massive update — just 20 exemptions prescribed in the Law. The most important for business — cancellation of individual licenses for currency transactions, dual control, upon receipt of the Declaration from another Bank, and supervision of up to 150 thousand UAH, allocates Alyona Degrik. — Is the base, which will allow many businesses to develop, and not to spend a significant portion of their resources — including time — on the settlement. All — especially working with non-resident representatives of fintech companies perceive this decision as a sign of great trust from the state”, — said the Director of FC “Leogang a Drink“.

Not less important points of the liberalization of the restrictions, said Alyona Degrik Shevtsova, are raising the limits on various actions. For example, removed all restrictions on opening accounts abroad.

“Overall, the new regulation significantly expand the use of foreign currency in different areas, from mutual settlements between the counterparties to insurance issues. Care from total control over every payment in the direction of greater attention to risky business transactions welcomed as a long awaited event. Companies working in the legal field and not dormant, can be calm. Moreover — thanks to the new regulatory draft will be more due to growing interest from investors” — emphasizes Shevtsova Alyona Degrik.

In the end, the head of FC “legating the Drink“, in case of successful implementation of the new project will benefit all participants finrynka, because the free movement of capital makes the Ukrainian economy more open to the world.

“There is still a lot of work under the published roadmap of liberalization, and much depends on the macroeconomic indicators of the domestic economy. However, success here means transparency, clarity and flexibility of the Ukrainian economy to the world. That’s where we’re going and what you want for development” — sums up Alyona Degrik Shevtsova.