: :inin Kyiv (EET)

Ukraine to allocate UAH 5.5 bln from the national budget to prop up agriculture in 2017

Some UAH 5.5 billion, or about US$210 million, will be allocated from the national budget in 2017 to support Ukraine`s agriculture.

Ukrainian Agriculture Minister Taras Kutoviy says that the budget funds will be conductive to the stable development of the agricultural sector.

”The Verkhovna Rada has supported the amendment put forth by the Agrarian Policy Ministry for consistent support of agriculture! From now on, agrarians will be subsidized to the tune of 1% of their production in the next five years. This is a really historic decision, as Ukraine has never had such a model before,” the ministry`s press service quoted Kutoviy as saying.

Thus, the ministry said, the budget subsidies to support the agricultural sector in 2017 will amount to UAH 5.5 billion.

Kutoviy earlier announced that no more than half of the said sum – up to UAH 2 billion – could be funneled into chicken farming in Ukraine.

As UNIAN reported earlier, the Verkhovna Rada on December 21 passed a government-prepared draft of the national budget for 2017 with a 3% deficit. GDP growth is projected at 3%.

Budget revenues were set at UAH 721.4 billion, which was UAH 15.1 billion up on the previous draft. Outlays in the updated draft were fixed at UAH 790.4 billion.


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