The economic effect of privatization in 2023: SPFU estimates it at UAH 3.4 billion

The State Property Fund of Ukraine (SPFU) has assessed the economic effect of privatization during the current year and noted its volume at UAH 3.4 billion.

This was announced in a press release by the SPFU.

According to the data obtained, out of the total amount of UAH 3.4 billion, UAH 2.4 billion are funds received from the sale of state-owned facilities. In addition, UAH 495 million was returned from enterprises in the form of debts to employees and the budget. In addition, this amount includes UAH 480 million of value-added tax (VAT) paid, which is 20% of the amount of winning bets.

"All of these funds are allocated to support the armed forces and defense. In addition, the new owners of state-owned facilities that were unprofitable create new enterprises, employ citizens and pay millions of hryvnias in taxes to the budget," the statement said.

According to the SPFU's estimates, the economically beneficial result of privatization activities will help strengthen financial stability and support the defense sector. Also, new investors attracted help create jobs and contribute to the stability of the country's economy.