Record Breaking Revenues From Privatization of State Assets

The Ukrainian budget received over $ 24 million (Hr.902 million) from the privatization of state and municipal assets during the first quarter of 2023. It’s the biggest government sale of the past ten years, as the State Property Fund of Ukraine (SPFU) reported on April 26. State assets were sold through the state-owned Porozzo.Sale e-auction system.

The average result for the first quarters during last ten years has been around $6 million (Hr.234 million).

“Our goal is fair and transparent privatization with maximum competition at auctions,” said Head of SPFU Rustem Umerov. “The result for the first quarter shows that businesses are interested in investing in state assets. Now we are working to resume large-scale privatization soon.”

For the first time in history, the SPFU successfully privatized a seaport. The sale of the Sea Trade Port of Ust-Dunaisk brought more than $5.4 million (Hr.200 million) to Kyiv coffers.

The Ukrainian government approved privatization of more than one hundred state assets in the coming years in an attempt to stimulate business activity during the war, as reported Oleksii Sobolev, CEO of Prozorro.Sale, in his exclusive interview to Kyiv Post.

Control over state owned enterprises has been among key sources of fraudulent misconduct in Ukraine for decades, as Kyiv Post demonstrated  in the recent Sennychenko corruption case.

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