Steps to current account liberalization: facilitating exports of services for small businesses

Extremely complicated procedures of currency exchange and cross-border transfer rates in Ukraine affect not only outflows of currency abroad but also inflows of foreign exchange earnings from exports. This is particularly harmful for small businesses. Administrative complexity also concerns taxation and other procedures related to the necessity of declaring international economic agreements in writing. Simplification of regulation will not only provide additional inflows of foreign currency, but will also create jobs and growth in aggregate domestic demand. The purpose of this research is to express our common position with the proposals of the USAID Leadership in Economic Governance (LEV) and the Easy Business Non-Governmental Organisation to facilitate the export of services and support the implementation of proposals contained in draft law No. 4496 of 04/21/2016 (Draft Law on Amendments to Certain Legislative Acts of Ukraine) regarding elimination of administrative barriers to the export of services.