Hetmantsev advocates currency liberalization of the National Bank

Currency restrictions imposed by the National Bank of Ukraine (NBU) should be gradually adapted to the needs of businesses. This was stated by Danylo Hetmantsev, Chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, at the Forbes Money forum held on May 30, 2025, in Kyiv, UNIAN reports.

“Currency restrictions cannot be lifted now, because our balance of payments is negative. But I agree that the National Bank can set certain currency restrictions with a margin. And, perhaps, by increasing the risk, it can bring the restrictions closer to the needs of business. We also urge the NBU to do so, without putting pressure on the regulator,” Hetmantsev emphasized.

His comment was a response to business representatives who said that strict currency rules impede investment, especially in large projects. For example, financing energy efficiency initiatives or repayment of external loans becomes virtually impossible.

Ihor Tynnyi, co-founder of the Ukrainian Renewable Energy Association, has previously emphasized that investors avoid investing in Ukraine because of the uncertainty of the return on investment in foreign currency. This seriously weakens confidence in the Ukrainian market.

At the same time, NBU Governor Andriy Pyshnyi said earlier that the regulator would move towards currency liberalization. According to him, it will be a gradual, controlled process that will be consistent with macroeconomic stability and market expectations.

As GMK Center reported earlier, the investment climate in Ukraine is expected to deteriorate in 2025. In 2024, foreign direct investment (FDI) inflows decreased by a quarter year-on-year – to $3.3 billion, of which 72% was reinvestment of earnings by existing investors. The accumulated volume of FDI decreased by 0.7% y/y – to $54.6 billion, which is 17% less than in pre-war 2021. In January-February 2025, FDI inflows amounted to only $351 million, which is 3.3 times less than in the same period in 2024.