---
title: "Hetmanets proposes abolishing 'National Cashback' to save the 5-7-9% lending program"
description: "Danylo Hetmanets proposed abolishing the 'National Cashback' program to finance business lending 5-7-9%, calling cashback a populist mistake with minimal impact on GDP."
date: 2026-08-19T04:40:01.000Z
lang: en
url: https://xab.info/en/posts/hetmanets-proposes-abolishing-national-cashback-to-save-5-7-9-lending-program
tags: [ukraine-economy, danilo-getmantsev, national-cashback, business-loans, budget-optimization]
publisher: "XAB.info"
---

# Hetmanets proposes abolishing 'National Cashback' to save the 5-7-9% lending program

![Sergiy Hetsman in a business suit explains the necessity of canceling the 'Natskeshbek' program to preserve the 5-7-9% preferential lending scheme](https://xab.info/media/2026/08/19/getmantsev-otmenit-natskeshbek-radi-5-7-9/getmantsev-otmenit-natskeshbek-radi-5-7-9-1.webp)

## 🎯 Key Points

- Hetmanets proposed abolishing 'National Cashback' to finance the 5-7-9% lending programs.
- Up to 50 billion UAH in the state budget is allocated for programs that are effectively not used.
- The effect of cashback on GDP is estimated by the parliamentarian at 0.10%, which he considers a statistical error.

Danylo Hetmanets, head of the Verkhovna Rada Committee on Finance, Taxation, and Customs Policy, has put forward a radical proposal to optimize the state budget. In an interview with RBC-Ukraine, he stated that tens of billions of hryvnias are needed to ensure the full functioning of the business support programs 'Accessible Loans 5-7-9%' and to expand war risk insurance. According to the parliamentarian, these funds should not be found by increasing the tax burden, but through a strict redistribution of inefficient expenditures, specifically by abandoning the state program 'National Cashback'.

### Hidden reserves and 'frozen' billions

Hetmanets pointed out a systemic problem in the management of budgetary funds: up to 50 billion hryvnias allocated for programs that are effectively not used by the government are recorded in the state budget. The deputy cited shocking statistics: for every fifth program, the fund managers cannot even go through the procedure of approving the budget program passport in the Ministry of Finance for the entire first quarter. The money is formally allocated, but it simply 'hangs,' bringing no benefit to the economy. Hetmanets called this a huge problem of expenditure efficiency that requires immediate intervention.

### Criticism of 'National Cashback' as a populist mistake

As a separate example of inefficient resource use, the deputy named the 'National Cashback' program. Hetmanets noted that he had spoken with entrepreneurs who oppose this initiative, believing that funds should be directed towards business lending. Commenting on the arguments of former Economy Minister Alexey Sobolev regarding the benefits of cashback, the head of the tax committee cited specific figures: the effect on GDP growth from cashback is only 0.10%, which is within the margin of statistical error. 'This was a populist mistake that needs to be abandoned, and the funds directed to the '5-7-9%' lending,' he stated.

### Support priorities: business versus retail payments

The parliamentarian also criticized the fuel purchase assistance program, calling it absurd. At the same time, he emphasized that there were correct social decisions, but he considers the current vector of supporting retail purchases at the expense of lending to the real sector of the economy to be erroneous. According to Hetmanets, abandoning cashback will allow mobilizing the necessary resources to support producers and exporters, which in the long term will have a much greater multiplier effect on the Ukrainian economy than one-time payments to citizens.

### Contradictory data

A debate has arisen around the effectiveness of the 'National Cashback' program. On the one hand, Danylo Hetmanets insists that the program's contribution to GDP is 0.10% and that it is a populist mistake that should be abandoned in favor of supporting business. On the other hand, former Economy Minister Alexey Sobolev previously argued for the benefits of cashback, pointing to its role in stimulating domestic demand and supporting small businesses that receive orders from citizens. Differences in assessments of the program's effectiveness create uncertainty in choosing budget planning priorities.

## 🔍 Fact-Check Verification

- ['Populist mistake'. Hetmanets proposes abolishing National Cashback](https://www.rbc.ua/ukr/news/populistska-pomilka-getmantsev-proponue-skasuvati-1787114309.html) - Источник подтверждает заявление Гетманцева о неэффективности кэшбека и предложении перераспределить средства на кредитование бизнеса.

## ❓ FAQ

### Q: Why does Hetmanets propose abolishing 'National Cashback'?
**A:** The head of the tax committee considers the program inefficient and populist, proposing to direct these funds to support business through 5-7-9% lending.

### Q: What contribution does cashback make to GDP according to Hetmanets?
**A:** According to the deputy, the effect on GDP growth from cashback is 0.10%, which is within the margin of statistical error.

### Q: How much money is 'hanging' in the state budget according to the parliamentarian?
**A:** Hetmanets estimates the volume of inefficiently used funds in the state budget at up to 50 billion hryvnias.