Poroshenko signs Currency Act The Act

Ukraine’s President Petro Poroshenko said he introduced a Currency Bill in the Verkhovna Rada at the meeting with business representatives, 112.ua reports.

“If you do not mind, I will sign the Bill and introduce it in the Parliament. It requires more signatures, but I will do it later,” he said.

He stressed that the liberalization process will not be introduced in one day.

“There is a need to synchronize it with financial stability deliver. Yet, I emphasize, that business and citizens will notice innovations right away after the adoption of the act. The currency control of operations below the threshold, less than $6000, will be cancelled, the currency control of more than 40% of operations Out of the total number of transactions was cancelled. One does not have to register loans from non-residents. Such painful punishment as the slowdown of internal economic activity is removed. Internal investments under limits will not require individual license,” the President said.