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Ukraine Expects $5 Billion From Reprivatization

13 September 2005 (RFE/RL) -- Ukrainian Finance Minister Viktor Pinzenyk has said the reprivatization of dozens of enterprises suspected of being sold off under shady circumstances during former President Leonid Kuchma's time in power might raise $5 billion.

Pinzenyk, speaking after a 12 September cabinet meeting, said 74 businesses were to be auctioned, with the auction dates for 54 of the enterprises already set.

He said the reprivatizations should cover the projected 2006 budget deficit of $1.6 billion and this year's remaining deficit of $1.2 billion.

More than 20,000 enterprises were illegally appropriated in Ukraine under Kuchma according to the State Property Fund, which is conducting an inventory and looking into allegations of widespread irregularities.


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