KIEV, April 8 – The increase in the excise duty on ethyl spirit and fortified alcohol adopted by the parliament on March 31 will lead to a cut in legal alcohol production by 53-90% and the temporary stoppage of distilleries, according to representatives of large alcohol companies.

"Due to the fall in buying power, problems with circulating funds and a rise in the excise duties to UAH 34 [per liter of 100% ethyl spirit], legal production would fall by 53-90%. For a certain period of time [two or three months] the distilleries would have to stay idle," reads a joint press release of Nemiroff Holding, SV, Olimp and National Alcohol Traditions published on Tuesday.