Ukraine's economy ministry to raise US$5 bln from sale of state enterprises.

The ministry hopes that new owners of the state assets to be sold will invest additional funds in the enterprises.

REUTERS

REUTERS

Ukraine's First Deputy Minister of Economic Development, Trade and Agriculture Pavlo Kukhta says the ministry plans to raise about US$5 billion for the national budget from the sale of state-owned enterprises.

Read alsoUkraine plans to sell five SOEs within 2020 privatization campaign

"Now we are selecting the last group of enterprises subject to privatization via the State Property Fund, that is more than 300 companies. Following that, there will be about 1,000 enterprises with a total book value of assets of about US$3 billion. Given the growth rates in the ProZorro.Sale [electronic] system and growth [in revenue] from privatization over Ukraine's history, this is about US$5 billion [in revenue] from the privatization [campaign]," he said at an event, titled "Reforms Forum: On the Road to Vilnius" on February 25.

The ministry hopes that new owners of the state assets to be sold will invest additional funds in the enterprises, the official added.

As UNIAN reported earlier, Ukraine plans to raise UAH 12 billion (US$486.8 million) for the national budget in 2020 as a result of privatization.

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