National Bank to transfer UAH 41 bln in profit to state treasury in 2020

REUTERS The draft State Budget of Ukraine for 2020 provides for the transfer by the National Bank to the treasury of at least UAH 40.709 billion in profit for 2019. The corresponding bill, published on the Verkhovna Rada website, says funds will be transferred after confirmation by the external audit, approval by the NBU Council of the regulator&#39;s annual financial statement and formation of reserves. It is noted that the funds will be transferred in accordance with the schedule established by the Ministry of Finance. Read alsoUkraine&#39;s hryvnia updates three-year record against dollar As UNIAN reported earlier, the Cabinet of Ministers submitted to Parliament a bill on the State Budget of Ukraine for 2020, which implies revenues of UAH 1.079 trillion, expenses at UAH 1.170 trillion, and a deficit ceiling of UAH 95 billion, or 2.09% of GDP. The project is built on the current macro-forecast with an exchange rate of UAH 28.2 per dollar, but in October, the government vows to finalize this draft after forecasts are updated. The budget draft is expected to be presented on Friday, Sept 20. In 2019, the National Bank transferred to the state budget part of its profit for 2018 in the amount of UAH 64.9 billion in two tranches – in April and May.

National Bank to transfer UAH 41 bln in profit to state treasury in 2020

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