The ban on the sale of farmland has been in effect in Ukraine since 2001 / Photo form UNIAN
Discussions with the World Bank will determine whether to allow purchases by foreigners or limit the size of sales.
A representative of Ukrainian President Volodymyr Zelensky's Office predicts that farmland reform, which suggests lifting the ban on sale of farmland and the launch of the farmland market, may be approved by the end of the year.
"There's an understanding in the team that if it's not done this year, it will be quite difficult," Deputy Head of the Presidential Office Oleksiy Honcharuk told Bloomberg.
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According to him, discussions with the World Bank will determine whether to allow purchases by foreigners or limit the size of sales. The most liberal version could boost gross domestic product by more than 3 percentage points a year and the most conservative by 0.5 percentage point.
"We're looking for the least painful but most efficient version," Honcharuk said.
As UNIAN reported earlier, last December the Verkhovna Rada, Ukraine's parliament, extended the ban on farmland sale, which has been in effect in Ukraine since 2001, until 2020. In January 2019, Ukrainian lawmakers refused to lift the moratorium on the sale of agricultural land.