First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko took part in a meeting of the Congress of Local and Regional Authorities under the President of Ukraine chaired by President Volodymyr Zelenskyy.

The implementation of the programme of partial compensation to farmers for the cost of agricultural machinery and equipment of domestic production will create approximately 9,000 new jobs and attract 1.5 billion additional taxes to the budget. These estimates of the Ministry of Economy were announced by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, in Cherkasy at a meeting of the Congress of Local and Regional Authorities under the President of Ukraine chaired by President Volodymyr Zelenskyy.

“Supporting domestic producers and stimulating the development of production is one of the key tasks of the Government. We strive to create conditions for business development. A number of programmes currently being implemented in Ukraine are aimed at this. For example, this year’s state budget allocates UAH 1 billion for the programme to compensate 25% of the cost of domestically produced agricultural machinery. It is estimated that this will be enough to support approximately 4,000 applications. This programme has doubled the share of domestic agricultural machinery in the domestic market and allowed us to launch the production of new machinery that had not been produced before. We hope to exceed this result,” said Yulia Svyrydenko.

The list of domestic machinery and equipment for the agricultural sector, the cost of which is partially compensated by the budget, before the large-scale invasion included more than 200 domestic agricultural machinery manufacturers and 17,000 items of machinery and various equipment. The Ministry of Economy plans to announce the call for updated applications from manufacturers in the near future. The list is expected to include hundreds of manufacturers after the update.

As Yuliia Svyrydenko said in her speech at the Congress, the 5-7-9 affordable loan programme remained extremely relevant and in demand. According to the First Deputy Prime Minister and Minister of Economy, the Government is constantly improving the programme to provide producers with more opportunities for development.

According to her, since the beginning of the large-scale invasion, grant programmes for processing, grants for starting and developing one’s own business, etc. have become equally important in supporting producers.

Last year, the Government made positive decisions to provide grants under the Vlasna Sprava (Own Business) programme worth UAH 2.4 billion. Since the start of the programme, grants totalling UAH 3 billion will be provided to 13,500 entrepreneurs who have committed to create 25,000 jobs. Since the launch of the grant programme for processing companies, 660 positive decisions have been made to provide grants totalling over UAH 3.3 billion, and the programme’s recipients will create over 10,000 new jobs.