Ukraine Seeks $295 Million from State Asset Privatisations Amid War Effort
Privatisation Strategy and Economic Impact
Government's Fundraising Goals
May 5 (Reuters) - Ukraine aims to raise around 13 billion hryvnia ($295 million) from private investors through the privatisation of state assets this year, Prime Minister Yulia Svyrydenko said on Tuesday.
Kyiv is putting state-owned assets up for sale to help shore up its budget strained by a more than four years of war with Russia and to help pay for reconstruction work.
Breakdown of Privatisation Targets
Svyrydenko said the government aimed to attract close to 10 billion hryvnia from large-scale privatisations and a further 3 billion from the privatisation of smaller assets.
"This is an ambitious task in wartime," Svyrydenko said on the Telegram messaging app.
Key Assets and Confiscations
Ocean Plaza Shopping Mall
The assets include the Ocean Plaza shopping mall, which had belonged to a Russian oligarch but has now been confiscated by the government, Svyrydenko said.
Sanctions and Legal Actions
As part of its economic response to Moscow's invasion, Kyiv has imposed sanctions on Russia and has been opening court cases to confiscate assets held by the Russian state in Ukraine and by businessmen close to the Kremlin.
Upcoming Auctions and Estimated Values
The shopping mall will be put up for sale at an auction in the third quarter, with an estimated value of close to $100 million, Svyrydenko said.
Progress and Financial Results
Revenue from Smaller Asset Sales
She added that the government has received more than 1 billion hryvnia from the privatisation of smaller assets since the start of the year.
Exchange Rate and Reporting
($1 = 44.0195 hryvnias)
(Reporting by Anna Pruchnicka; Editing by Andrew Heavens and Hugh Lawson)
