ICU: Daily Insight -- Liquidity up with VAT refund

​According to the Treasury, the State Fiscal Service of Ukraine submitted list of tax payers for VAT refunds totaling UAH6.83bn at the end of January. Considering this information and additional documents, the Treasury paid UAH2.18bn in VAT refunds this Wednesday from tax revenues received that day. As a result, the VAT refund caused banking sector liquidity to rise UAH1.78bn. Banks' correspondent accounts with the NBU rose UAH0.52bn to UAH45.87bn while total CDs outstanding was up UAH1.26bn to UAH61.91bn, the largest amount since the decline that began January 10, 2017.