The state program “National Cashback” continues to play an important role in supporting the financial stability of citizens by returning accumulated funds to the country’s economy. Ukrainians most often use the received amounts to cover basic needs, particularly for paying utility bills.
This is reported by Finway
Main Spending Directions under the National Cashback Program
According to information from the Ministry of Economy, Environment, and Agriculture, prepared in collaboration with Mastercard, the majority of funds that Ukrainians receive under the cashback program are directed specifically towards paying utility services. This category accounts for 70% of all expenditures, allowing for the coverage of about 13% of total market spending by the population in the housing and utilities sector.
Other directions of fund usage are as follows:
- telecommunication services – 8%;
- pharmacies – 6%;
- food products – 5%;
- other expenses (including charitable contributions to the Armed Forces of Ukraine and payment for postal services) – 17%.
Categories of Goods with the Highest Cashback
Analytics show that 67% of respondents are already actively taking advantage of the cashback program, and 95% of participants rate it positively or neutrally. Participants receive the most cashback when making everyday purchases. In particular, 86% of respondents indicated food products, 39% – medications at pharmacies, 28% – cleaning products, 27% – household goods, 19% – personal care products, and 13% – clothing and footwear.
“63% of participants have a family income of up to 40,000 UAH per month.”
Who Uses the State Program Most Actively
The results of the study demonstrate the program’s popularity among families with low and medium incomes. Specifically, 63% of participating families have a monthly income of up to 40,000 UAH. Another 19% of program users earn between 40,000 and 60,000 UAH per month. The structure further looks like this:
- 9% have an income of 75,000 to 100,000 UAH;
- 5% – from 60,000 to 75,000 UAH;
- 4% – over 100,000 UAH.
It was previously reported that the cashback program for fuel has been extended until the end of May; however, the monthly compensation limit has been reduced from 1,000 to 500 UAH.