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Large privatization should add $ 1 billion to Ukraine's budget in next few years, - PM

Source : 112 Ukraine

Currently, there are 3,600 state-owned enterprises in Ukraine
17:37, 29 July 2020

Ukraine’s Prime Minister Denys Shmygal
Government Portal

Large privatization campaing that is going on in Ukraine should add $ 1 billion to the state budget of Ukraine in the coming years. Prime Minister Denys Shmygal announced this during a government meeting.

"We also have great expectations from large-scale privatization, which should bring about $ 1 billion to the budget in the coming years," Shmygal said.

As we reported before, the Verkhovna Rada has cut the state budget of Ukraine for 2020. 249 parliamentarians voted for the bill.

Related: Zelensky talks about new head of Trilateral Contact Group

According to the changes, the state budget’ revenues were reduced from 40.5 bln to 36 bln dollars and the expenses increased from $43.7 bln to $46.7 bln dollars.

The state budget deficit has been increased from 3.5 bln dollars to 11 bln dollars.

It is planned to cover the increased deficit through borrowing. The permitted limit of state debt as of December 31 will increase from 75.5 bln dollars to 88 bln dollars.

Compared with the bill introduced by the Cabinet, the fund for combating COVID-19 has been reduced by 73.8 million dollars, and now it is in the amount of 2,4 billion dollars. At the same time, the Ministry of Health was allocated 583.7 million dollars for the state guarantee program for medical services, and 369.4 million dollars was allocated to the Ministry of Social Policy for the payment of pensions and pension allowances and 22 million dollars for benefits.

Related: Ukrainian govt approves forecast of Ukraine’s economic, social development for 2021-2023

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