Ukraine may lose up to $400 million annually if the blockade at the border continues - Ministry of Agriculture
Kyiv • UNN
If the blockade on the border with Poland continues, Ukraine could lose up to $400 million annually due to reduced exports and lower budget revenues.
Due to the blocking of trade, a decrease in exports of Ukrainian products, and potential losses of Ukrainian producers, the maximum calculation of losses could reach $400 million per year. However, recent negotiations have confirmed that the Polish and Ukrainian sides can cooperate.
Deputy Minister of Agrarian Policy and Food of Ukraine Taras Vysotsky said this in a telethon, UNN reports .
When asked what negative consequences may be recorded due to the blockade of the border, which has been in place since the end of last year, Deputy Minister of Agrarian Policy Taras Vysotsky answered as follows:
The firstthing we see is that trade in both directions is blocked. This includes imports. We regularly have calculations by the Ministry of Finance that show that from UAH 6 to 9 billion a month are lost to the budget due to revenue shortfalls
The second factor, according to Vysotsky, is the reduced exports of Ukrainian value-added products.
It could be a matter of several $100 million in annualized direct losses
Therefore, there is a shortfall in budget revenues. There is a potential loss of producers due to the inability to export. The maximum calculation of losses if the blockade continues is up to 400 million dollars in annual terms
At the same time, the official explained that the Polish and Ukrainian sides are currently engaged in a dialogue and search for mutual understanding. The Polish side is interested in reaching agreements that could be found as early as April 2024.
