The Ukrainian Ministry of Economy announced that the National Cashback program reached a new milestone in May, distributing UAH 490 million to over 3.5 million participants. This amount represents a 10% increase from the UAH 445 million distributed in April, marking the highest monthly payout since the program’s launch. The Ministry highlighted the program’s role in boosting domestic consumer spending and supporting local businesses.
According to the ministry, the surge in participation and total compensation underscores the program’s effectiveness in driving local economic activity. The increased cashback incentives are expected to have a positive impact on consumer confidence and the overall economy. With the program’s focus on promoting Ukrainian goods, the Ministry emphasized its commitment to fostering domestic markets and reducing reliance on imports.
The financial boost from the program is particularly significant as Ukraine continues to navigate economic challenges, including inflation and currency fluctuations. The Ministry of Economy stated that the initiative aims to stimulate demand for locally produced goods, thereby strengthening the national economy and creating a more resilient market environment.