The government estimates economic effect from launch of farmland market / Photo from UNIAN
The cumulative economic effect will be US$64 billion over 10 years.
The maximum economic effect from the launch of the farmland market in Ukraine market could be US$85 billion in 10 years if the market is open to all stakeholders.
This was announced by Prime Minister Denys Shmyhal when presenting results of the audit of the domestic economy and the vectors of economic development until 2030.
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According to the presentation, the model of the land market adopted by the government will allow increasing the cost of one hectare of land to US$5,072 in 10 years from the current about $1,000.
"The cumulative economic effect will be US$64 billion over 10 years. However, this value is not the maximum possible. The maximum economic effect could be US$85 billion if the market is open to all stakeholders," the presentation of the strategy says.
It is noted that the adopted law on the farmland market provides for a number of serious restrictions, such as limiting the areas that could be bought by one person, a ban on the sale of land to foreigners, which will directly affect the fair value of land and added value per employee.