A bill designed to launch the farmland market in Ukraine from October 1, 2020, passed its first reading on November 13.
Photo from UNIAN
Ukrainian Deputy Minister of Economic Development, Trade and Agriculture Taras Vysotskyi says barring foreigners from the purchase of agricultural land in Ukraine will annually slow the country’s GDP growth by 0.5%.
“This means not actual GDP losses, but a decrease in the potential growth of the gross [domestic] product by 0.5% in the next three to five years. Relatively speaking, we could see 2.5% growth, but the pace may stop over the limitations and the growth could be 2%,” he told UNIAN on November 14.
As UNIAN reported earlier, a bill designed to launch the farmland market in Ukraine from October 1, 2020, passed its first reading on November 13.
Ukrainian President Volodymyr Zelensky said foreigners and foreign entities would be allowed to buy agricultural land only in case of the support of the idea in a national referendum.
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