40% of Ukraine's economy is in the shadows — Yulia Svyridenko

The First Deputy Prime Minister of Ukraine and the Minister of Economy, Yuliya Svyridenko, during a media briefing on Wednesday, announced that according to the estimates of the Ministry of Economy of Ukraine, 40% of the country's national gross domestic product is "in the shadows".

According to her, this also applies to the agricultural sector and the export of agricultural products. The laws signed by the President of Ukraine, Volodymyr Zelenskyi, aimed at combating "black grain" and the non-return of foreign exchange earnings, will provide an opportunity to better control the issue of the return of foreign exchange earnings from agricultural products.

"I think that according to the latest figures of "grey" grain export, only our grain traders can give you an expert assessment, but it is clear that there is a share. We calculated that if we are talking about the shadow economy, then 40% is a potential figure for finding the economy "in the shadow".

I think it is obvious that this applies to the agricultural sector, including the export of agricultural products. Therefore, the law signed by the President should give an opportunity to control the return of foreign exchange earnings from agricultural products more closely," said Svyridenko.

The minister noted that in the last six months there has already been a shift in the figures in the return of foreign exchange earnings.

"But let's look at the dynamics. We hope that our situation will improve by the end of the year," she added.

Svyridenko noted that this is important because, if the foreign exchange revenue is not returned, it endangers the financing of the state budget.

Certificate:

  • Earlier, the head of the VRU committee on finance, tax and customs policy, Danylo Hetmantsev, stated that at least 1.5 trillion hryvnias are in the shadow of Ukraine's economy. 500-600 billion of them could go to the budget. But bringing these funds out of the shadows is not a matter for one year. However, the state is gradually moving towards the bleaching of entire industries, and this work entails an increase in revenues to the budget;
  • the state is trying to bring markets out of the shadows and create equal economic conditions for all. This was successfully done with the trade in gold products and in the fuel industry.
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