Translated by Ollie Richardson & Angelina Siard
The acceptance of land reform can increase the annual output of production by $15 billion and increase GDP approximately by 1.5%.
This is stated in the column of the Director of the World Bank for Belarus, Moldova, and Ukraine Satu Kahkonen “Land reform before the end of the year: three fronts for the government”, published on “epravda”.
“Substantial reform of the land sector must include incentives for long-term investments and appropriate management of land resources, access to crediting, and land transfer to its most productive users,” it is said in the column.
“As a result the productivity of the agricultural sector can expand the annual output of production by $15 billion and increase GDP approximately by 1.5%,” added the director.
According to her, this will contribute to an approximate $2 billion increase in income from the one-time sale of State-owned lands and $250 million annually from their rent.
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