Ukraine to cut 69 of 111 state defense enterprises - dpty defense minister.

Twenty state-owned enterprises of the Ukrainian Defense Ministry are to be liquidated and fifteen others are to be reorganized based on the results of 2020-2021, Ukrainian Deputy Defense Minister Ihor Khalimon said.

"Over the course of 2020-2021, 20 state enterprises should be liquidated, 15 reorganized, and three prepared for privatization (the 209th Operations Officer's Directorate, the 417th Operations Officer's Directorate, and the Druzhbivsky Quarry of Nonmetallic Minerals Kvarts)," Khalimon said in an interview with Interfax-Ukraine.

In line with a list of state-owned assets endorsed by the Defense Ministry order of September 11, 2020, which envisions the optimization of the state enterprise management system, 42 of the 111 Defense Ministry enterprises (40 related to the ministry's Main Directorate and the other two to its Main Intelligence Directorate) will remain operating, Khalimon said.

"We're talking about optimizing the system of management of state enterprises by determining a list of economic assets to be engaged in meeting the needs of the Ukrainian Armed Forces," he said.

The Defense Ministry currently manages 109 economic entities, which generated losses of over UAH 53,000 in 2019, Khalimon said.

"Based on the results of economic activities in 2020, the enterprises transferred UAH 269.235 million to the Ukrainian state budget, which is 12% more than in the previous period, the enterprises' aggregate revenue grew by 23% to UAH 1.069 billion, and the net sales revenue grew by 19.6% to UAH 984.7 million," Khalimon said.

According to him, after the reorganization of the state-run enterprise Ivano-Frankivsk Military Timber Industrial Complex and the state-run enterprise Lviv Military Forestry Complex, 11 newly established forestry enterprises, based on the results of financial statements, worked profitably, with no wage arrears.

Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

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