Ukraine: limitations in the law on the land market not to give the expected economic effect — expert




The law on agricultural land turnover adopted by the Verkhovna Rada of Ukraine, is the generally positive step, but the high number of restrictions provided by the law will not contribute to any significant economic growth in the near future, declared the President of UCAB, CEO of IMC, Alex Lissitsa.

According to him, the reform will give absolutely nothing to the economy, and absolutely nothing to businesses, except for headaches. The law is designed in such way that it de jure comes into force in mid-2021, but de facto it can only come into effect since January 2024. In fact, until 2024 there will not be no transactions on the land market, and therefore the business is not sure whether the authorities to postpone the start of the reform again.

Also, A.Lissitsa believes that it is possible that the government can easily move the right for legal entities to purchase agricultural land from January 1, 2024, to January 1, 2030.