According to Experts.news, Ukraine’s local budgets received 287.22 million UAH in tourist tax revenue from January through September 2026, which is 23%, or 53 million UAH, more than during the same period last year, according to the registration data monitoring service “OpenDataBot.”
According to analysts, compared to the corresponding period in pre-war 2021, tourism tax revenues nearly doubled in nominal terms.
The bulk of the payments came from legal entities, which transferred 154.25 million UAH—or 54% of the total amount—to local budgets. Individual entrepreneurs accounted for 132.97 million UAH, or 46%.
At the same time, the structure of revenues varies significantly by region.
In 16 regions of Ukraine, the majority of the tourist tax is paid by individual entrepreneurs. The largest share of such revenue was recorded in the Chernivtsi region, where entrepreneurs accounted for 87% of the total tax.
In only six regions do companies account for the majority of the tourist tax. The highest corresponding figure was recorded in Kyiv, where legal entities accounted for 81% of the revenue.
The budgets of Kyiv and Lviv Oblast received the largest amounts of tourist tax revenue over the first nine months of 2026—55.21 million UAH each. Ivano-Frankivsk Oblast ranks third with 40 million UAH, and Zakarpattia Oblast ranks fourth with 30.42 million UAH.
These four regions account for approximately 63% of Ukraine’s total tourist tax revenue.
The highest growth rates in payments were recorded in Rivne Oblast—47% compared to the same period in 2025—Transcarpathian Oblast—44%—and Cherkasy Oblast—43%.
The tourist tax is a local tax paid by individuals during temporary stays at hotels, hostels, guesthouses, and other lodging facilities. Businesses and sole proprietors providing such services act as tax agents.
Tax rates are set by local government bodies within the limits defined by the Tax Code of Ukraine. The funds collected are credited to the budgets of local communities.
The growth in tourism tax revenue reflects an increase in nominal tax payments; however, this does not in itself indicate a corresponding increase in the number of tourists, as the amounts are also influenced by tax rates and the structure of accommodations.
Based on results from January through September 2026, Lviv Oblast has practically caught up with Kyiv in terms of tourism tax revenue—both regions contributed 55.21 million UAH to their local budgets, according to data from the “OpenDataBot” service and data analysis by the Experts Club analytical center.
According to analysts, the difference between Kyiv’s and Lviv Region’s revenues is only 6,000 UAH. At the same time, the growth rates of these payments differ significantly.
In Lviv Oblast, the tourist tax increased by 30% over nine months compared to the same period in 2025, while in the capital, the increase was 8%.
Ivano-Frankivsk Oblast ranked third in terms of revenue, with its local budgets receiving 40 million UAH in tourist tax.
The Zakarpattia region ranks fourth with 30.42 million UAH.
The combined revenue from these four regions totaled approximately 180.84 million UAH, or 63% of Ukraine’s total tourism tax revenue.
Revenue grew the fastest in the Rivne region, where payments increased by 47% over nine months.
The Zakarpattia Oblast showed a 44% increase, and the Cherkasy Oblast, a 43% increase.
According to “OpenDataBot,” in most regions, the tourist tax is primarily paid by individual entrepreneurs. This pattern is characteristic of 16 regions of the country.
In particular, in the Chernivtsi region, sole proprietors account for 87% of tourism tax revenue.
In Kyiv, the situation is the opposite: 81% of payments came from legal entities. This is one of the most notable indicators of the corporate sector’s dominance among tourism tax payers.
In total, over the first nine months of 2026, Ukrainian local budgets received 287.22 million UAH in tourist tax revenue. Compared to the same period the previous year, revenue increased by 23%, or 53 million UAH.
The tourist tax is one of the local taxes, the revenue from which remains in the budgets of local communities. It is paid by individuals temporarily staying in hotels and other lodging facilities, and the funds are remitted by tax agents designated by law.
According to Interfax-Ukraine, following audits of agencies under its jurisdiction, Ukraine’s State Agency for Infrastructure Recovery and Development canceled purchases of luxury cars in the regions totaling 7 million hryvnia and imposed a moratorium on such tenders.
In particular, the purchase of a Toyota Land Cruiser for 4.26 million hryvnias for the Recovery Service in Lviv Oblast was canceled, and the tender for a luxury car worth 2.9 million hryvnias for the Recovery Service in Kharkiv Oblast was canceled.
“Luxury cars—only at your own expense! The purchase of a Toyota Land Cruiser for 4.26 million hryvnias for the Restoration Service in Lviv Oblast is unacceptable. I share the public’s outrage and thank the journalists who brought this situation to light,” emphasized Ivan Fedorov, head of the State Agency for Infrastructure Restoration and Development of Ukraine, on Telegram.
As reported by “Nashi Hroshi,” on November 2, following the results of a tender, the Infrastructure Recovery and Development Service in Lviv Oblast ordered a passenger car for 4.26 million hryvnias from “Diamant” Service Center LLC. The contract called for the delivery by November 20 of a 2026 Toyota Land Cruiser GR Sport 3.3 Twin Turbo passenger car.
Fedorov emphasized that, at his instruction, audits have been launched at institutions under the jurisdiction of the Recovery Agency. In particular, problematic procurements were also identified in the Kharkiv region, where officials sought to acquire a Toyota Land Cruiser Prado, for which a budget of 2,915,750 hryvnias had been allocated.
“In the Lviv region, the vehicle will be returned to the dealer, and 4.26 million UAH will be refunded to the account. In the Kharkiv region, the tender was canceled on November 6 at my instruction. A moratorium on the procurement of luxury vehicles has been implemented within the Agency’s system. The relevant personnel decisions have already been made. As the head of the Agency, I am responsible for the operation of the entire system. Budget funds must be directed toward people’s real needs, infrastructure protection, and the country’s recovery,” Fedorov emphasized.
Norway is allocating NOK 500 million (about $53 million) to Ukraine’s state budget through the World Bank, which will help sustain critical public services and ensure the payment of wages, pensions, and social benefits in Ukraine’s civilian sector in early 2027, according to a statement on the Norwegian government’s website on Friday.
“Ukraine’s resilience also depends on whether everyday life can be maintained, even amid a prolonged war. Norway is helping to ensure that children can go to school, hospitals can treat patients, and retirees can receive their pensions,” said Foreign Minister Espen Bart Eide following a meeting with Ukrainian Foreign Minister Andriy Sybiga in Warsaw, where they are jointly participating in a meeting of foreign ministers from Germany, Poland, the Nordic countries, and the Baltic states, along with EU High Representative for Foreign Affairs and Security Policy Kaja Kallas.
The meeting is dedicated to the situation in Ukraine and is part of a broad diplomatic effort ahead of the next round of negotiations between Ukraine and Russia, which will take place next week in Abu Dhabi.
“In addition to our extensive and long-term military and civilian support for Ukraine, Finland and Norway are helping Ukraine prepare for the upcoming negotiations. Our goal is to contribute to achieving a lasting and just peace in Ukraine. This is also one of the topics I am discussing today with my Ukrainian counterpart,” Eide noted.
A government statement emphasizes that Norway’s support strengthens Ukraine’s position in any future negotiations with Russia, and that Norway has previously provided assistance in meeting the urgent financial needs of Ukraine’s state budget.
The funding is provided through a multilateral donor trust fund of the World Bank, which reimburses verified expenditures on salaries, pensions, and social benefits in the civilian sector, particularly in the areas of health care, education, and emergency services.
“This assistance will help ensure payments to socially vulnerable households, pensioners, and public sector employees. It will also help meet year-end financing needs and marks Norway’s first contribution to Ukraine’s state budget in 2027,” the government noted.
It is noted that the World Bank is an important partner for Ukraine and the Nansen Support Program for Ukraine. The Bank works closely with the EU and other partners and supports reforms that are part of Ukraine’s efforts toward EU membership. “Good governance and the fight against corruption are central elements of the World Bank’s activities in Ukraine. The Fund has special control mechanisms that verify expenditures before they are reimbursed. These processes are also subject to external oversight,” the Norwegian government emphasized.
As previously reported, a trilateral meeting (between Ukraine, the U.S., and Russia) in Abu Dhabi is scheduled for November 10–11, 2026, in a working format mediated by the U.S. The main topics of the talks will be: an energy ceasefire (cessation of attacks on the energy sector and critical infrastructure), the safety of shipping in the Black Sea (the grain corridor), humanitarian issues, and the exchange of prisoners.
The National Housing Policy Strategy through 2033 is set to be approved by the end of this year, said Vitaliy Bezgin, Minister of Communities, Territories, and IDPs, as he opened the first Annual Housing Conference in Kyiv.
“The government has planned for 2026 the preparation of the State Strategy for Housing Policy through 2033 and an implementation plan for 2027–2029. We are updating legislation on social housing and improving the management of the housing stock,” Bezgin said.
According to him, Ukraine’s State Housing Strategy through 2033, which is scheduled to be adopted by the end of the year, is intended to serve as the foundation for practical steps at both the national and local levels. The Annual Housing Conference is expected to yield concrete proposals that can be implemented by parliament, the government, and local communities with the support of international partners.
“Every day, Russia strikes at the homes of Ukrainians; every day, people are forced to leave their homes, particularly due to evacuation. Housing policy, support for communities, and work with internally displaced persons are interconnected areas. Our programs should be built around these areas: housing vouchers for IDPs, ‘eRecovery,’ and solutions for social housing, among others. The 2027 draft budget allocates 30.5 billion hryvnias for housing programs, which is 10.8 billion hryvnias more than last year. ‘Housing remains the focus,’ Bezgin added.
The minister emphasized that, given the unprecedented challenges, housing policy must become the state’s absolute priority. “Investments in housing are investments in people, in economic stability, and in Ukraine’s future,” he noted.
The first annual housing conference, “Housing Recovery, Community Revitalization: Scaling Housing Solutions for Ukraine’s Recovery and Development,” will run through November 5. It will bring together over 1,000 representatives from government, communities, international organizations, the business sector, and the expert community.
Over the course of three days, more than 1,000 participants (representatives of national and local authorities, international organizations, the business community, and others) will discuss the reconstruction of destroyed housing, the development of social and affordable housing, financing for the housing sector, and the comprehensive recovery of communities. The program includes four plenary sessions and 59 technical sessions organized into six thematic areas.
The conference is organized by the Ministry of Communities, Territories, and IDPs of Ukraine and the World Bank Group. The event is supported by the Government of Austria and the Aid, Recovery, Reconstruction, and Reform Fund (URTF).
According to Experts Club, on October 30, 2026, the international rating agency Fitch Ratings unexpectedly revised its outlook on France’s long-term sovereign credit rating from “stable” to “negative,” while maintaining the rating itself at A+. This decision is linked to the deterioration of public finances in the eurozone’s second-largest economy, a slowdown in economic growth, and rising debt-service costs, Reuters reported, citing a statement from Fitch.
The rating agency noted that since its previous review in August 2026, France’s credit metrics have deteriorated sharply. Economic growth has been weaker than expected, government bond yields have risen significantly, and the prospects for reducing the budget deficit have become less certain.
Fitch is particularly concerned about the trend in public debt, which, according to the agency’s forecast, will rise from 115.7% of GDP in 2025 to approximately 124% of GDP in 2028.
Thus, over the next three years, France’s debt burden could rise by more than 8 percentage points of GDP, despite the government’s stated plans for fiscal consolidation.
According to Fitch’s assessment, the total fiscal adjustment required to stabilize public debt now stands at about 3.5% of GDP, compared with 3% of GDP in the August forecast.
An additional challenge is the rise in public debt servicing costs. The agency expects interest payments on the debt to increase from 2.5% of GDP in 2025 to 3.3% of GDP in 2028.
This means that an increasingly large share of budgetary resources will be directed toward payments to creditors, which will limit the ability to finance other government expenditures without raising taxes or taking on new debt.
Fitch forecasts that France’s general government deficit will reach 5.5% of GDP in 2027. This significantly exceeds the 3% of GDP benchmark set by European fiscal rules.
Meanwhile, the French government expects to reduce the deficit to 5% of GDP in 2027. Fitch’s higher forecast reflects the agency’s doubts about the feasibility of implementing the planned austerity measures and generating additional budget revenues.
The negative economic trends are also confirmed by the latest official statistics.
According to a preliminary estimate by France’s National Institute of Statistics and Economic Studies (INSEE), published on October 30, the country’s GDP contracted by 0.1% in the third quarter of 2026, following zero growth in the second quarter.
At the same time, exports fell by 1.7% compared to the previous quarter, and fixed capital formation declined by 0.6%.
Inflation added to the pressure; according to INSEE data for October, it accelerated to 3.4% on a year-over-year basis.
The situation in the government bond market also reflects growing investor concern.
The yield on 10-year French bonds exceeded 5.14% at the end of October, reaching its highest level since 2002.
Rising yields mean higher costs for the government to raise new funds and a gradual increase in the cost of refinancing existing debt.
Of particular significance is the widening spread between French and German government bond yields, which are traditionally used as a benchmark for assessing debt risks in the eurozone.
In October, this spread reached 178 basis points, compared with approximately 85 points in early September, indicating a notable increase in the risk premium on French government debt.
Fitch also highlights the political constraints on fiscal policy.
The French government lacks a stable parliamentary majority, and the approaching 2027 presidential election complicates efforts to agree on spending cuts and tax changes.
Mass protests over the cost of living, funding for public services, and socioeconomic reforms are creating additional pressure.
According to the agency’s assessment, political fragmentation and a tense social climate make it difficult to implement a consistent, multi-year policy to reduce the budget deficit.
At the same time, Fitch believes that the 2027 budget could be adopted using the mechanisms provided for in the French Constitution, even without a stable majority in the National Assembly.
However, the mere adoption of the budget does not guarantee that the stated financial targets will be met if economic growth remains weak and debt service costs continue to rise.
French Minister of Economy and Finance Roland Lescure stated in an official announcement on October 30 that the government takes note of Fitch’s decision.
According to him, it confirms the need to adopt a responsible budget by the end of the year, aimed at reducing the public finance deficit to 5% of GDP.
The minister emphasized that the government intends to continue fiscal consolidation and ensure predictable conditions for economic activity.
Fitch’s decision marked yet another warning from the major international rating agencies regarding France’s financial situation.
On October 23, Moody’s maintained the country’s credit rating at Aa3 with a negative outlook. Meanwhile, S&P Global Ratings rates France at A+ with a stable outlook.
Thus, two of the three largest international rating agencies now have a negative outlook on French government debt.
Fitch plans to conduct its next review of France’s rating no later than the end of February 2027.
A negative outlook does not imply an automatic downgrade, but it does indicate an increased risk of such a decision in the future if public finances continue to deteriorate.
At the same time, the agency emphasizes that the current A+ rating is supported by the size and diversification of the French economy, high household income levels, the resilience of government institutions, membership in the eurozone, and a relatively stable banking sector.
For the European economy, the deterioration in France’s fiscal outlook is significant primarily due to the size of its public debt and the role of the French financial market in the eurozone.
A further rise in the cost of government borrowing could increase debt-service costs, limit the scope for fiscal stimulus, and intensify pressure on public finances.
In addition, persistently high yields on government bonds could affect lending conditions for French companies and households, as the cost of sovereign borrowing serves as one of the benchmarks for the financial market.
Fitch Ratings is one of the three largest international credit rating agencies, alongside S&P Global Ratings and Moody’s. The agency assesses the creditworthiness of governments, corporations, and financial institutions. An A+ rating falls within the investment-grade category and indicates the borrower’s relatively high ability to meet its financial obligations.
Previously, a video analysis of countries’ external debt was prepared by the Experts Club think tank — https://youtube.com/shorts/fUTLp6l_fTY?si=A2hpjEt0CCViKKnh
