Accessibility links

Breaking News

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.


Related Stories:

"President Sacks Government, Offering More Questions Than Answers"

"Ukraine: A Conflict Over Gas And Power"

RFE/RL has been declared an "undesirable organization" by the Russian government.

If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.

To find out more, click here.