First Deputy Prime Minister of Ukraine and Minister of Economy Yulia Svyrydenko announced during a briefing on Wednesday that, according to estimates by 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 President of Ukraine Volodymyr Zelensky, 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 only our grain traders can give you an expert assessment of the latest figures of "gray" grain exports, but it is clear that there is a share. We calculated that if we are talking about the shadow economy, then 40% is the potential figure for the economy being "in the shadow.".
"I think it is obvious that this concerns the agricultural sector, including the export of agricultural products. Therefore, the law signed by the President should provide more control over the issue of returning foreign exchange earnings from agricultural products," Svyridenko said.
The minister noted that over the past six months, there have already been changes in the figures for the return of foreign exchange earnings.
"But let's see in dynamics. We hope that the situation will improve by the end of the year," she added.
Svyridenko noted that this is important because, if foreign exchange earnings are not returned, it jeopardizes the financing of the state budget.
Reference:
- Previously, the head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev, stated that at least 1.5 trillion UAH is in the shadow of the Ukrainian economy. Of these, 500-600 billion could go to the budget. But bringing these funds out of the shadows is not a one-year task. However, the state is gradually moving towards the whitening of entire industries, and this work entails an increase in budget revenues;
- The state is trying to bring markets out of the shadows and create a level playing field for all. This has been achieved with the trade in gold products and in the fuel industry.
