Introduced by the Government of Ukraine the program of subsidies monetization is implemented smoothly. This was stated by Prime Minister of Ukraine Volodymyr Groysman.

"We have already paid over UAH 350 million in subsidies. The process is underway. The money belongs to Ukrainians. In fact, we shall enter the new heating season with an efficient system", said the Prime Minister.

Volodymyr Groysman added that one of the key advantages of monetization is the ability to efficiently consume resources and to use money economized on utility bills at their disposal. "If a person saves on services - spent less, all savings will be transferred to this person for his/her needs", the Head of Government noted.

Background 

According to data from the state-owned Oschadbank, starting March 12, monetized subsidies began to be paid through the bank's network. In particular, on the first day of payments through the system Shvydka Kopiika (Fast Copeck), subsidies to the tune of UAH 19.4 million were paid, which were executed through 11172 transfers. The total sum of UAH 333.4 million has been transferred to the credit cards through 204 224 transfers. The campaign is underway.

The subsidy program in Ukraine is in effect to help vulnerable groups of the population. The Prime Minister of Ukraine Volodymyr Groysman has repeatedly stated, the Government has always protected and will continue to protect people who, due to different living conditions, cannot pay for utility services, and meanwhile the Government pursues a policy of efficient consumption of resources. Therefore, in 2017, on the initiative of the Cabinet of Ministers, a mechanism was introduced to stimulate the saving of gas and electricity during the heating season. In 2018, such an incentive amounted to about UAH 700 in monetary terms. The number of households that received funds made up 1.3 million.

The current full monetization of subsidies has become a logical continuation of the systemic steps of reforming the housing and utilities sector, energy and social sectors, as well as achieving energy efficiency and energy independence. Saved money, as a result of the efficient consumption of resources, will remain to the disposal of consumers. And such a principle will be applied on a permanent basis.