Liberalization of the agricultural land market in Ukraine and increased transparency could lead to a significant increase in state budget revenues. In particular, these measures are expected to generate up to $35 billion in additional revenues, which could offset the $20 billion deficit in agricultural financing and partially cover the $500 billion cost of the country’s overall reconstruction.
The liberalization of the agricultural land market is expected to bring economic benefits of 1-2.7% of gross domestic product (GDP) annually over the next three years. This opening of the market will also allow foreigners, including citizens and companies from the European Union, to purchase land for agricultural use in Ukraine, which should provide additional benefits.
According to the data, about 71% of Ukraine’s territory is agricultural land, of which 33 million hectares are arable land. However, as a result of the invasion, about 20% of agricultural land was occupied and a third of the sector was destroyed, resulting in losses of $80 billion in agriculture.
Poland will ensure LNG supplies from the US to Ukraine
During a meeting with U.S. Secretary of Energy Chris Wright, Polish Prime Minister Donald Tusk emphasized Poland’s key role in regional gas infrastructure. He noted that the country is one of the largest importers of American liquefied natural gas (LNG).
US closes ports for Russian ships
The US President signs a new executive order banning Russian-flagged or Russian-linked ships from entering US ports.
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