Ukraine may reduce imports by $4 billion

Friday, December 26, 2014 - 17:01 (EET) Section: Latest news

The introduction of an additional import duty will contribute to a reduction in imports in 2015 by nearly $4 billion.
Prime Minister’s Advisor on Import Valeriy Piatnytsky said this at a briefing in the Cabinet of Ministers on Friday, an Ukrinform correspondent reported.
“We have forecasted that by introducing these measures we can reduce imports in the agricultural sector by UAH 830 million and imports of industrial goods by approximately $2.7 billion. Of course, the calculation does not include energy goods, i.e. gas, oil and coal,” he said.
The prime minister’s advisor has not excluded certain reorientation from imported goods to domestic products as a result of such measures, and, as a consequence, a certain increase in gross domestic product.
“This measure is not aimed at limiting competition in the market, because it is universal in relation to everybody, and the proportion between various branches will remain almost unchanged.”