Abolition of the farmland sales moratorium will contribute more than 1% of GDP growth

Abolition of the moratorium on selling farmland in Ukraine is important for stimulating economic development, in particular, it will add more than 1% of GDP growth. Such an opinion was expressed by Satu Kahkonen, the World Bank Country Director for Belarus, Moldova, and Ukraine, UNN reports.

"The state farmland ineffective management today is causing serious damage to the Government. If state lands are managed effectively, it will give USD 60 million of additional revenues to local budgets annually. In addition, if a moratorium on the sale of farmland is lifted, it will allow the pensioners to make a profit," Satu Kahkonen noted.

According to the CEO of the Seed Association of Ukraine Susanna Grigorenko, after the abolition of the moratorium on the sale of farmland, the opportunities will appear for attracting investments in the expansion of the seed business in Ukraine.