Import of agricultural products from the EU will make up about USD 9 billion in 2023, and revenues to the Ukrainian budget will exceed USD 1.6 billion.

This forecast was made public by First Deputy Director for scientific work of the scientific-research center Institute of Agrarian Economics by Academician of the National Academy of Agrarian Sciences Serhiy Kvasha, the scientific establishment told Ukrinform.

“Signing of the Association Agreement between Ukraine and the European Union will lead to growth of revenues to the state budget. One of important sources for filling the budget will be import of agricultural products from the EU. Over 10 years, it may reach about USD 9 billion,” the scientist said.

As a result of this, according to the center's calculation, revenues to the state budget at the expense of VAT will be about USD 1.5-1.8 billion. From payment of import duty, which will reduce to 1.3% over 10 years, about USD 70 million will come. Therefore, total amount of budget revenues from import of agricultural products from the EU will reach USD 1.6-1.9 billion.

The expert believes that additional revenues to the budget will be made at the expense of growth of operations in wholesale and retail trade as a result of selling imported agricultural goods. “The economic effect will be reached by growth of budget revenues from economic entities through payment of profit tax, VAT, from the cost of trade patents, local duties and other revenues from trade and transport services,” the Academician summed up.

ukrinform.ua