Realization of the agricultural potential of Ukraine is impossible without macroeconomic and sectoral reforms

Realization of the agricultural potential of Ukraine is impossible without macroeconomic and sectoral reforms

Realization of the agricultural potential of Ukraine is impossible without macroeconomic and sectoral reforms

The FINANCIAL -- The most complete realization of the agricultural potential of Ukraine is impossible without making of a series of reforms at the macroeconomic and sectoral levels, declared John Shmorhun, CEO at AgroGeneration, on March 24 at the Ukrainian-American Agrarian Congress in Washington, D.C.

As for the macroeconomics, the list of first-priority tasks includes holding of the institutional and economic reforms, strong and consistent policy of the National Bank Ukraine, the fight against corruption, etc. Also, the Government should actively stimulate domestic agricultural producers, thereby increasing the exports, said the expert.

D.Shmorhun called improving and transparency of the Ministry of Agrarian Policy, the reform on land register, increasing the minimum term of agricultural lands rent (to 7-15 years), as the required measures to be realized in the agrarian sector of Ukraine, according to APK Inform-Agency.

Also, the expert focused on the need to reform the tax system of Ukrainian agricultural business, but keep the existing special regime of VAT and single tax rate. The Government should subsidize bank credits of the "flagman" agricultural producers, said the CEO of AgroGeneration.

D.Shmorhun considered it necessary to impose the mechanism of insurance of the political and economic risks, provision of bank guarantees for working capital financing and purchasing of the required technical equipment, etc.