Ukraine minister highlights plight of agri-businesses
The Ukrainian state secretary for agriculture, Mr. Louzan, has highlighted the plight of the country’s agricultural sector by suggesting that over 50% of companies involved in agricultural processing will fail to turn in a profit this year.
The minister said that despite having paid over 94% of their taxes, the businesses had received only 64% of subsidies promised. Mr. Louzan predicted that the businesses, both agricultural farms and processing industries, would definitely go into the red as a result.
Sources in the Ukraine say that the outlook could worsen, as many companies record artificially inflated results under pressure from local authorities.
