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Agricultural sector is one of major budget generating sectors

Posted by the Editor on January 14, 2014


News / 14 January 2014 | 12:09

Agricultural sector is one of major budget generating sectors

Agricultural sector is one of major budget generating sectors

According to the Ministry of Agrarian Policy and Food of Ukraine, at year end 2013, agricultural producers will generate revenue for budgets of all levels in the amount of 47 billion UAH, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
Agricultural market experts say that in recent years, the revenue of the consolidated budget by agricultural enterprises has been steadily growing. Thus, this figure has grown by 37% from 2010. This growth is due to the significant boost of agricultural production in recent years.
In particular, according to the State Statistics Service of Ukraine, agricultural production increased by 11.7% YOY for 11 months in 2013. And if we consider only agricultural businesses, the increase is 18.4%.
The government analysts also note the growth of export revenues from Ukrainian agricultural supplies abroad. Thus, in 2010 the exports of agricultural products and ready foods was 9.9 billion USD, in 2011 – 12.8 billion USD, in 2012 – 17.9 billion USD, in the 9 months of 2013 – 13.2 billion USD.
Experts at the Ministry of Agrarian Policy and Food note that budget support of the agricultural sector is not growing, in fact, it is falling. Although, they believe there is a need to increase the budget support especially for agricultural cooperation, development of farming, small and medium agricultural production. Specifically, there is a need to increase funding of agricultural advisory service. Without the help of consultants, it is difficult for the villagers to create and manage agricultural cooperatives, they emphasize.

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