President of Ukraine

President: Arrangements have been reached to adopt a land market law

27 March 2020 - 22:19

President of Ukraine Volodymyr Zelenskyy at a meeting with the deputy faction "Servant of the People" ensured the support of the bill on the circulation of agricultural land subject to the refusal of a sale of a state-owned land and a reduction of concentration for one person.

According to the Head of State, at the first stage of opening the land market, the legislation will provide for the possibility for individuals to own not more than 100 hectares.

“We have reduced the concentration for individuals to 100 hectares. For legal entities, this is the second stage, which will be introduced in 2024, there will be up to 10 thousand (hectares - ed.). Hence, the first stage - for individuals, for Ukrainians - 100 hectares per person,” Volodymyr Zelenskyy emphasized.

The President stressed that the adoption of laws on the land market and banks is necessary for receiving a loan from the International Monetary Fund.

It bears reminding that the government will keep budget support to the agro-industrial sector at the level of 4 billion hryvnias despite the reduction of some state budget expenditures due to the need to fight coronavirus, as reported by the Presidential Commissioner for Land Affairs Roman Leshchenko.