The money promised to double-jabbed people by the Ukrainian president will not be paid in cash not to drive up inflation, said Oleh Ustinov in an interview for ‘Dom’ TV station.
According to Zelensky’s economic advisor, ready money has its ‘downside’.
‘Opposition says ‘give out cash’… If you give out ready money, you will actually stimulate inflation. Besides, ready money can be lost for Ukraine’s economy going into imported goods’.
Another reason for this non-cash approach, is restrictions Zelensky’s incentive has. The money coming through state-run ‘Diya’ app can be spent on recreational services, tourism, and transportation as ‘service sector has been the hardest-hit’, said Ustinov.
Launched by Volodymyr Zelensky in mid-November, 1000 hryvnas’ payment incentive is intended to spur flagging vaccination rates among Ukrainians and provide an influx of money to stimulate economy sectors impacted by the pandemic.
The Ukrainian president specified vaccine recipients will be paid 1000 hryvnas they could spend on books, sports, museums, traveling, and public transport expanses.