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30% of cost of Ukrainian agri machinery could be refunded to farmers

Staff Writer |
Ukraine's Agricultural Policy and Food Ministry has said that around 30% of the cost of Ukrainian-made agricultural machinery with the localization level of 50% could be refunded from the budget.

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"We want to provide UAH 500 million to support purchase of Ukrainian-made machinery with the localization level of 50%.

"This would be implemented via the cost refund program. Around 30% of the cost of Ukrainian machinery will be compensated by the state," Minister Taras Kutoviy said at the Doing Agribusiness in Ukraine 2016 international conference.

He said that the key Ukrainian plants manufacturing agricultural machinery have reached localization of up to 50%.

"We want the localization grow. We tell manufacturers in public, that along with the economic potential they should boost the localization level," he said.