Ukraine to limit amount of subsidies to agricultural producers in 2018
"The government has already identified main areas of state support for the agricultural sector in 2018, and today we are actively working to form procedures for the use of funds," the Agricultural Policy and Food Ministry reported, citing First Deputy Minister Maksym Martyniuk.
According to a statement released by the ministry on Friday, October 13, the draft state budget for 2018 provides for the allocation of UAH 2 billion for a subsidy program for the development of agricultural producers and stimulation of agricultural production.
"The budget subsidy for UAH 2 billion will be improved by changing the formula for accrual of funds and limiting the provision of support to one producer - no more than UAH 150 million," the report says.
According to the ministry, as part of the program to support the development of farms for UAH 1 billion 50% of this amount will be received by cooperatives and the other half by family farmers, classical farmers and those who want to become a farmer for the first time. ■