Retail Sales Surge, Farm Land Market Finally to Begin

Retail Sales Surge, Farm Land Market Finally to Begin
🔵 Retail sales were up 14% yoy for the first four months of this year, compared to January-April 2020, reports the State Statistics Service. April 2020 was very weak due to the national quarantine, but during April 2021, much of the nation was also under a limited shopping quarantine.
🔵 Ukraine increased steel production by 7.2% during the same period, to 7.1 million tons. Giving production a big boost, Ukraine’s steel production was up 38% yoy in April. Today, Ukraine is the world’s 13th largest steel producer, according to the World Steel Association.
🔵 Concorde Capital’s Evgeniya Akhtyrko writes: “April’s surge in retail trade is impressive…We expect consumer demand to stay strong in 2021, allowing retail sales to accelerate to 10% yoy (vs. 8.4% yoy growth in 2020).”
🔵 Through 2025, the price of farm land should double, thanks to the new land market that starts July 1, Prime Minister Shmygal, told the Ukraine 30 land forum yesterday. In addition, local governments should see rents more than double on their farm land, from 7% of estimated value to 18%, he predicted. A pilot project to lease state-owned farm land through electronic auctions is resulting in higher rents, he said.
🔵 Almost 10% of Ukraine’s farm land is farmed off the books, costing the state as much as $1 billion in lost taxes annually, reports the Association of Agrarians of Ukraine. Lease payments on these tax-dodging schemes total as much as $2.5 billion, the group’s chairman, Alexander Vasilivsky, complained to Roman Leschchenko, the new Agriculture Minister.

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