Support of agriculture from the 2017 national budget would be around 5.5 billion UAH, Ukraine’s Agricultural Policy and Food Ministry has reported.
“Now farmers will receive subsidies in the amount of 1% of products they make during five years. This is a really historic decision, as Ukraine does not have this model. In 2017 support will total 5.5 billion UAH”, minister Taras Kutoviy said.
Ukrainian Prime Minister Volodymyr Groysman said discussing the draft budget that 4 billion UAH would be provided for the subsidy program to agricultural producers, 500 million UAH for agricultural machine building, 700 million UAH for the fund securing credits in the agro-industrial sector and some other programs.
It is planned to increase financing of farmers by 1.08 billion UAH from the special fund of the national budget thanks to an increase in revenue from seizure of assets of corrupted persons.
Some 40 million UAH from support of cattle breeding was transferred to fish industry and 30 million UAH more was earmarked for fish selective breeding. 56.8 million UAH was added for taking anti-epizootic measures.
The special VAT regime for agriculture is to be annulled from 2017. (Interfax/Business World Magazine)