President commissioned to submit the draft state budget for 2020 to the parliament within two weeks, begin large-scale privatization and introduce the land market

Volodymyr Zelenskyy announced the launch of large-scale privatization.


The Cabinet of Ministers of Ukraine must submit a draft state budget for 2020 to the Verkhovna Rada within 2 weeks. In addition, the priorities of the renewed authorities are the start of large-scale privatization and introduction of the agricultural land market. During his meeting with the leadership of the Verkhovna Rada, the Cabinet of Ministers and the law enforcement bodies, the President of Ukraine gave corresponding instructions.

In particular, the Head of State commissioned Prime Minister of Ukraine Oleksiy Honcharuk and Minister of Finance Oksana Markarova to submit a bill on the State Budget of Ukraine for 2020, which will stimulate economic growth, to the Parliament by September 15, 2019.

The country’s main budget should include, inter alia, the rise of social standards in line with economic growth and the elimination of subsidies to agrarian oligarchs (instead, they should be aimed at supporting small farmers); abolish corruption schemes of redistribution of the state budget; provide financing for the construction and repair of 20 most problematic roads (Road Fund). In addition, funds should be provided for the implementation of the State Program for the Development of Mountain Territories and the functioning of the Carpathian Mountain Territory Planning Scheme, including an integrated information system for monitoring the socio-economic development of mountain settlements.

Volodymyr Zelenskyy also stated that the Government should elaborate and submit to the Verkhovna Rada a bill on the agricultural land market by October 1, 2019, as well as abolish the moratorium on the sale of land.

“Explain to the public that no one will take the land from anyone. It is very important. The land reform model is aimed at the development of Ukrainian farming and, above all, the interests of the small owners,” he emphasized.

Also, by December 1, 2019, it is necessary to adopt a law on the agricultural land market and abolish the moratorium on its sale, and provide 100% of information about land in the State Land Cadastre by January 1, 2021.

At the same time, Volodymyr Zelenskyy announced the launch of large-scale privatization. To do this, by October 1, 2019, the Parliament must pass a bill to abolish the list of state property that is not subject to privatization. The Government should also make a specific list of strategic enterprises that are not subject to privatization. In addition, the Cabinet of Ministers must transfer at least 500 enterprises to the State Property Fund of Ukraine for small-scale privatization through the ProZorro.Prodazhi auction system and start preparing large state-owned companies for privatization with the involvement of investment advisers by December 1, 2019. Also, by April 1, 2020, the Government must hold the first privatization competition.

For the reform of the financial sector, the Head of State commissioned the Parliament to amend the legislation on consolidation of functions on state regulation of financial services markets by October 1, 2019. This provides for a division of functions between the National Bank and the National Securities and Stock Market Commission (“split”).


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