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Ukraine’s earnings from privatization reach 5-year high

Source : 112 Ukraine

The 2017 result is also 18 times higher than the 2016 figure
14:15, 29 December 2017

Open source

Ukraine has earned $120.7 million from privatization in 2017, which is the highest result in five years. Vitaliy Trubarov, acting head of the State Property Fund of Ukraine announced this on his Facebook page, Xinhua reports.

Related: Why Ukraine fails privatization each year?

The aforementioned figure illustrates a dramatic improvement from the $6.7 million the government managed to raise from privatization in 2016. What is particularly remarkable is the fact that the State Property Fund has increased its revenues from the lease of state-owned property by 19%, to reach $50 million.

Related: Turkey interested in privatization of Ukrainian coal mines

The government of Ukraine has privatized 83 state facilities within the first six months of 2017. However, the figures regarding the results of privatization in the second half of the year have not been revealed to the public yet.

Related: State Property Fund to sell Ukrnaftoprodukt and 7 other enterprises in January 2018

The government has approved an ambitious privatization program for 2017-2020, which aims to privatize a total of 893 items in order to improve the operating efficiency of these businesses and to fill the cash-scarce state budget with funds. As reported earlier, the State Property Fund has announced the first 8 state-owned enterprises that will be up for auction as early as 17 January 2018.

Related: Groysman: government supports selling state property that’s not used effectively

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