World Bank: Abolition of moratorium on farmland sale in Ukraine to ensure additional GDP growth

World Bank: Abolition of moratorium on farmland sale in Ukraine to ensure additional GDP growth

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Ukrinform
The World Bank believes that the abolition of moratorium on farmland sale in Ukraine will ensure a tangible growth of the domestic economy.

This is stated in the press release of the World Bank, which is available to Ukrinform.

"According to the World Bank forecasts, the abolition of moratorium on farmland sale in Ukraine will ensure a tangible growth of the Ukrainian economy by $0.7-1.5 billion annually, an equivalent of additional GDP growth of 0.6-1.6% annually," the document reads.

The international partners are ready to continue supporting Ukraine, but Ukraine should also take care of itself and start using its resources, World Bank Country Director for Belarus, Moldova and Ukraine Satu Kahkonen stated.

As reported, in December 2017, the Verkhovna Rada of Ukraine extended the moratorium on the purchase and sale of farmland land, which had been introduced in 2002. The owners of land plots cannot sell their property until January 1, 2019.

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