Ukrainian exports comparable with pre-crisis levels - PM

MOSCOW. May 7 (Interfax) - Ukrainian exports were comparable with pre-crisis levels in April 2024, Ukrainian Prime Minister Denis Shmygal said.

"That became possible thanks to the new maritime corridor, military risk insurance, investment in logistics, and support for Ukrainian exports," Ukrainian media quoted Shmygal as saying at a government meeting on Tuesday.

Owing to business support programs, the government observes gradual economic recovery and improvement of business activity, he said, adding that cancellation of Resolution No. 153, which restricts payments for imported goods and services, would be an important element of support.

"We have two global tasks in the economic policy. The first one is business support programs and stimulation of economic activity. The second one is business climate to unlock the full potential of entrepreneurs and fulfill their ambitions. The government makes a very important decision in this area today. We cancel Government Resolution No. 153, which limited payments for imported goods and services. This is crucial for business," Shmygal said.

This kind of liberalization will unlock new opportunities for Ukrainian businessmen, so that they enter new markets, boost exports, launch new projects, and create jobs in Ukraine, he said.

"Today's decision of the government goes in the same vein with our broader de-regulation policy. Over 1,000 permits, licenses and regulations on state-business relationships have been reviewed. Some of them will be abolished, some will be liberalized, and some will be digitalized," Shmygal said.

As reported, the National Bank of Ukraine proposed that the government scrap Resolution No. 153. In May, the bank has been implementing a set of measures to ease forex restrictions on enterprises. For instance, all forex restrictions on the import of work and services are abolished, and businesses have an opportunity to repatriate "new" dividends and transfer funds abroad through leasing or renting. The National Bank noted that the lifting of all restrictions on businesses' purchase and transfer of foreign currency abroad in the import of work and services makes Government Resolution No. 153 meaningless.