For the first time in 100 years Ukrainians can sell farmland
🔵 From today, Ukrainians can sell their farmland, a right largely lost after the communist takeover one century ago. “Ukrainians will become the real masters of their land, because they will be able not only to own it, but also to dispose of it freely,” Prime Minister Shmygal wrote yesterday on Telegram. “There is not a single successful country where there is a moratorium on the introduction of a civilized land market.” Ukraine’s largest export industry, agriculture cultivates annually 32 million hectares, an area larger than Italy.
🔵 Good rains and expanded cultivation are expected to increase Ukraine’s wheat harvests by 21% yoy during the new July-June marketing year, forecasts Agritel, the consulting arm of Argus Media. The latest forecast is for 30.5 million tons, breaking the record set in 2019-2020.
🔵 In the Rada’s latest move to meet IMF requirements, Ukraine’s parliament yesterday approved legislation to strengthen the independence of the central bank and expand its regulatory powers. Government members are not to attend Board meetings of the National Bank of Ukraine. The central bank wins more control over the activities, reputation and financial states of banks’ major owners, related parties and top managers. In 2015-2017, Ukraine closed about two thirds of Ukraine’s banks due to insolvency.