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Serhiy Lovochkin: Government must support Ukrainian exporters

Foreign trade volume of Ukrainian goods shortened by 5.6 percent over three quarters of 2020. This means the budget for 2021 must be revised for additional support of exporters. This was stated by MP Serhiy Lovochkin.

“While it had been envisioned earlier that Ukrainian exports might reach the pre-war levels, the current crisis has postponed such prospects for an indefinite period. Significant decrease of sales volume of Ukrainian goods this year is an alarming process that requires government intervention,” the politician believes.

He cited data of January – September 2020 export volumes which have reached merely 76 percent of the 2013 level. The situation is most catastrophic with exports of Ukrainian goods to CIS countries which fell by three times.

“The EU market failed to cover these losses: notwithstanding the free trade area, our exports to Europe increased by some 8.5 percent over seven years. This year, we are losing that as well: the sales of Ukrainian goods to the European market fell by 16.3 percent over nine months of 2020 compared to the same period last year,” the MP said.

According to Lovochkin, the government fails to assess the seriousness of the problem. The state budget for 2020 envisioned only UAH 15 million for promotion and increase of national exports; for 2021 the amount is UAH 14.5 million only.

“In 2019, the budget provisioned 158 million for this purpose, and 278 million in 2018. Still, even those funds were not enough. The link is obvious between the cut of the state support for exports and its plunge this year. Therefore, the state budget amount for the promotion of Ukrainian goods abroad in 2021 must be increased by at least 50 times. Otherwise, the situation with exports will continue deteriorating,” Lovochkin said.

Опубликовано: 18 November 2020