KIEV, Nov. 9 – The National Bank of Ukraine hopes to cut cash from 14.3% in 2015 to 9.5% of GDP in 2020, NBU Governor Valeriya Gontareva said in a video address at the opening of the Cashless Ukraine Summit in Kiev on Wednesday.

"We set the introduction of cashless payments as a top priority task. We believe that this is one of the key strategic directions for developing the Ukrainian banking system. According to the NBU's data, last year the public received 58% of income in the cashless form. However, only 18% of expenses were cashless. This is evidence that the majority of population get used to withdraw money from payment cards in cash at ATMs. Our ambitious goal is to cut cash from 14.3% of GDP in 2015 to 9.5% of GDP in 2020," Gontareva said.