The result of two years from October 2016 to September 2018 of the introduction of duties on the export of scrap metal in Ukraine was an increase in revenues to the state budget, that is, the direct economic effect from the export of raw materials amounted to almost UAH 1 billion.
Certain positive trends have taken place in the mining and metallurgical complex itself:
Steel production increased by 3%
Electrometallurgy showed an increase of 37%
Pipe production increased by 26%
Manufacturing of metal structures increased by 34%
The stabilization of the supply of scrap metal to Ukrainian metallurgical enterprises, which increased by 24% in two years, led to the fact that the shortage of raw materials on the market decreased from 20% to 2%, that is, 10 times!
Based on the above facts, the scrap export duty has become useful for both metallurgists and the state. In addition, it does not harm the interests of scrap collectors, since metallurgical enterprises pay a fair price for raw materials and the duty has not become a barrier for exporters. Moreover, over the past two years, metal scrap consumers have increased the wages of their employees by 66%.
Impact of duties on the export of scrap metal in Ukraine
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Azovpromstal® 26 February 2019 г. 09:59 |
