Verkhovna Rada, the Ukrainian Parliament, has decided to extend the current scrap export duty of 58 euros per ton for 5 more years.
The decision was supported by 291 members.
The extension of the duty will help save 21.5 thousand jobs and create 3.5 thousand new jobs, decrease CO2 emission and help increase GDP by 0.03%.
Without the duty, the state budget might miss 1 billion UAH of tax payments, while the scrap shortage might amount to 23% of the needs in the first year. (Ukrainian metal)