Business week: NBU governor apologizes, Ukraine signs €750 million contract, apartments fall in price

The beginning of the week outlined several important topics at once, from the human factor in the financial system to large defense contracts and changes in the housing market. A high-profile story about a veteran forced the governor of the National Bank of Ukraine to apologize and PrivatBank to reconsider its approach to servicing people with disabilities.At the same time, the world is experimenting with new models of social support: The Marshall Islands were the first in the world to launch a basic income program with the possibility of crypto payments. In Ukraine, the focus is shifting to strengthening defense capabilities: the agreement with Germany on the production of self-propelled artillery systems "Bogdan" became one of the largest in the military-industrial complex during a full-scale war.The day-to-day economy is also changing: housing rents in Kyiv have fallen significantly, indicating that the market is adjusting after a long period of high prices.Read more about these and other key events in the digest below.NBU Governor personally brought a card to a veteran in the hospitalGovernor of the National Bank of Ukraine Andriy Pyshnyi personally came to the hospital to hand the veteran a bank card. The soldier was not given it in one of the branches of PrivatBank because of bureaucracy. To get a card, you need to hold it near your face for a photo to confirm your identity. The 20-year-old veteran is missing all his limbs, so he was unable to do this. As a result, he did not receive the card.The case went public and caused outrage on social media. The NBU Governor personally intervened in the situation and handed the card to the defense lawyer, who was undergoing treatment."PrivatBank will introduce systemic changes in its work with the military and veterans, as well as people with disabilities, after the unacceptable situation that happened to a veteran in Kyiv," the financial institution said.Marshall Islands launches basic income program with crypto paymentsThe Pacific nation of the Marshall Islands has become a pioneer in the field of social payments by introducing a basic income program with the option of receiving funds in digital currency. According to The Guardian, this is the first such initiative in the world. Each citizen of the archipelago can receive $200 quarterly, which is approximately $800 in annual payments per person.David Paul, the country's Minister of Finance, explained that the program's goal is to provide social protection for all islanders. He emphasized that such a sum does not provoke people to quit their jobs, but rather helps to maintain optimism in difficult economic conditions. The first payments were made at the end of November: residents of the archipelago with a population of 42 thousand could choose a convenient format: bank transfer, check, or digital wallet with cryptocurrency.For crypto payments, the government uses the USDM1 stablecoin, which is pegged to the US dollar and backed by short-term US Treasury bonds, CoinDesk reports. The digital currency operates on the Stellar blockchain, and recipients use a special government wallet called Lomalo. The program is financed from a $1.3 billion trust fund formed by agreement with the United States as compensation for years of nuclear testing on the islands. The US side is to add another $500 million by the end of 2027. Experts see the project as a breakthrough in the use of blockchain technologies for government social programs, but so far, crypto options are less popular due to limited Internet access and a lack of smartphones in remote parts of the archipelago.Ukraine and Germany sign agreement on production of Bohdan air defense systemUkraine signed an agreement for the supply of 200 Bohdan self-propelled artillery systems on Mercedes-Benz chassis. The total value of the contract is €750 million, according to the Ministry of Strategic Industries. This is part of a larger package of agreements worth more than €1.2 billion.The Bohdana self-propelled artillery system is a Ukrainian development of 155 mm caliber with a range of 40-50 kilometers. The use of the German Mercedes-Benz chassis will increase the mobility and reliability of the systems.According to the ministry, the first samples of the new equipment will be delivered to the Armed Forces in 2025.Apartment rents have fallen in price in KyivThe rental housing market in Kyiv is undergoing significant changes – apartment prices declined by 15-20% compared to the beginning of the year. According to analysts, a one-bedroom apartment in the capital can now be rented for $300-350 instead of the previous $400-450.The largest decline in the apartment rental market in Kyiv occurred in November-December 2025. During the fall, average rental prices for one-bedroom apartments fell by 20% – from UAH 20,000 per month in August to the current UAH 16,500. And for two-bedroom apartments – from UAH 29,000 to UAH 23,000 per month.The main reason for the fall in prices is the massive outflow of people due to the war and the increase in supply on the market."Many owners who used to rent out apartments or refused to lower their prices are now forced to make concessions," explain real estate market experts.At the same time, demand for housing remains stable, so analysts predict that prices will stabilize at new levels.Hetmantsev hints at tax evasion by Basha Kuhn restaurantThe Chairman of the Tax Committee of the Verkhovna Rada, Danylo Hetmantsev, publicly drew attention to the possible tax violations of the popular Basha Kitchen restaurant in Zhovkva. In his post on social media, he noted that the restaurant shows signs of high attendance and profitability, but official reporting raises questions.He urged business owners to fulfill their tax obligations in good faith, especially in times of war when the budget needs maximum revenues."I support small businesses if they are really small. But if the volume is much larger, you should not use the schemes of splitting into individual entrepreneurs and evading taxes. Honest competition is always better than fear and shady schemes," Hetmantsev summarized."BashA Kitchen is one of the most famous restaurants in Zhovkva, which has gained popularity due to the owner's activity on social media and world culinary records.Romania tests the reliability of the bridge across the Tisza to UkraineRomania has completed the test a new bridge across the Tisza River, which will connect the two countries and become an important logistics artery. The photos released by the Romanian side show heavy machinery driving over the structure to check its strength.The length of the bridge is 240 meters: 70 meters on the Romanian side, 100 meters in the central section, and 70 meters on the Ukrainian side.The structure was tested with a load of 320 tons: eight trucks, each loaded with 40 tons of crushed stone, drove across the bridge. The tests began on the Romanian side, on a section raised above the water, and later on the Ukrainian side.The bridge is located in the border area and is of strategic importance for trade between Ukraine and the EU. According to Romanian officials, all tests were successful and the structure fully meets the required safety standards. The official opening of the bridge for regular traffic is scheduled for the coming months.Court returns Gulliver's parking lot to previous tenant New owners of the Gulliver shopping center have failed in a legal battle for control over the complex's parking lot. The Kyiv Commercial Court upheld the claim of the previous tenant, who was granted the right to continue using the parking space.The conflict arose after the change of owners of the shopping center, who tried to terminate the existing lease agreements and establish new terms of cooperation. However, the court ruled that the previous tenant had legal grounds to continue operating under the previously concluded contract. Representatives of the new owners of Gulliver announced their intention to appeal the decision.The Ministry of Finance presented a draft law on VAT for individual entrepreneursMinistry of Finance on December 18 published published on its website a draft law introducing a value-added tax for individual entrepreneurs. According to the document, starting from January 1, 2027, simplified taxpayers (except for e-residents of the third group) must register as VAT payers if their sales of goods or services, including online commerce, exceeded UAH 1 million over the past year, excluding VAT.The main goal of the initiative is to level the playing field for businesses, as currently, entrepreneurs on the simplified taxation system have a price advantage over VAT-paying companies. Last year, companies under the general taxation system paid UAH 386.6 billion in "internal" VAT to the budget. If the law is passed, the state budget will receive an additional UAH 40.1 billion from individual entrepreneurs in 2027. According to estimates based on last year's data, the new rule will affect about 660,000 single taxpayers, mostly sole proprietors of the second and third groups.Currently, there are three groups of the simplified taxation system in Ukraine: the first one with an annual income limit of UAH 1.3 million and monthly payments (single social contribution – UAH 302.8, military duty – UAH 800, unified social tax – UAH 1,760); the second one for small businesses with a limit of UAH 6.67 million per year (single social contribution – up to UAH 1,600 per month, military duty – UAH 800, unified social tax – UAH 1,760); the third is the most popular among IT and freelance businesses with an annual limit of UAH 9.33 million, where 5% of income is paid quarterly or 3% plus VAT for those who are already taxpayers, 1% military duty and at least UAH 1760 of the unified social contribution per month. If the draft law is passed, entrepreneurs will have to add 20% VAT to their existing taxes.Auchan, Varus and Spar: where you can spend your winter support nowAuchan, Varus and Spar supermarket chains joined to the program for receiving winter financial support from the state. Now Ukrainians can use the UAH 1,000 payment to purchase food and essential goods in these retail chains.In total, the number of stores where you can pay for Ukrainian food products with Winter Support and National Cashback increased from 1160 to more than 1780 over the week.Previously, winter support could only be spent in a limited number of stores, which caused complaints from citizens. The expansion of the list of outlets will make it easier for millions of Ukrainians to use the funds. According to the Ministry of Social Policy, as of today, more than 9 million people have already received winter assistance.Applications for thousands of hryvnias of "Winter Support" will be accepted until December 24, 2025. You can apply online through the Diia app or in person at Ukrposhta offices. So far, more than 17 million people have applied for the payment.Rada approves renaming kopiika to krok in first readingOn December 18, the Verkhovna Rada supported in the first reading the draft law No. 14093, which provides for renaming the kopek to the shag. The document was voted for by 264 MPs. Relevant amendments are to be made to the laws on the National Bank, pensions, capital markets, and the Tax Code under a separate draft law No. 14094."It's not about a small coin – it's about a big choice. It's about who we are with and who we have left forever. Even the coins of Ukraine will no longer be under Russian influence. This is a small step in metal, but a very big step in justice," commented Ruslan Stefanchuk, the initiator of the bill.The renaming does not involve the withdrawal of 50 kopeck change coins from circulation – there are no other kopeck coins left, as ten kopeck coins were withdrawn from circulation on October 1. The 50 kopeck coins will be introduced in parallel, and no additional costs are planned.The explanatory note states that the 1996 monetary reform created the basis for its own national currency, the hryvnia, but failed to completely break the link with Russian traditions. In addition to Ukraine, only Russia, Belarus, and Moldovan Transnistria have kopecks.The name "shag" has historical roots: it comes from the Old Ukrainian "siah" (step) or "shelyag" and is often found in folk proverbs and works of Ukrainian classics, and was also used in the money circulation of the Ukrainian People's Republic in 1918-1919.

Business week: NBU governor apologizes, Ukraine signs €750 million contract, apartments fall in price

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