Ukraine raises 1% of planned revenues from privatisations in 2016
The State Property Fund (SPF) of Ukraine obtained from privatisation of state-owned assets UAH188.92mn ($7mn) or 1.1% of the UAH17.1bn ($627.5mn) plan set in the 2016 budget, the government agency said on January 23.
The Ukrainian government was not able to creat necessary conditions for domestic and foreign investors despite pledges to conduct major privatisations of state-owned assets, including power plants, ports, coalmines, agricultural firms, and horse- and fish-breeding farms.
The privatisation drive failed even though the International Monetary Fund (IMF), the country's main donor that agreed a $17.5bn support programme with Kyiv in 2015, had insisted on the implementation of an "ambitious privatisation and restructuring agenda".
In December, the Ukrainian authorities failed to sell via a second tender a 99.567% stake in Odesa Port Plant (OPP), the giant chemical plant located on Ukraine's southern Black Sea coast.
The new tender flopped despite the SPF more than halving the plant's starting price to UAH5.16bn ($200mn) following the first failed privatisation attempt in July. A successful sale was regarded as a centrepiece of Ukraine's privatisation process and essential to winning confidence of cautious foreign investors.
Related Articles
EU extends Russian sanctions by six months
The European Union has agreed to extend the sanctions against Russia for six months, European Council President Donald Tusk announced on June 22. “Agreed. EU will extend economic sanctions ... more
Germany and Gazprom question need for EU talks on Nord Stream 2
A joint EU mandate to discuss the operating rules that would apply to Russia's planned Nord Stream 2 gas pipeline is not necessary, Angela Merkel said on June 15. Russian state-controlled ... more
Poroshenko pledges to seek EU membership for Ukraine with start of visa-free regime
Almost 1,900 Ukrainians used their right to travel to the European Union on the first day of the visa-free regime for citizens visiting the bloc for short-term stays, the country’s State ... more
Most Read This Week
Selected articles from our premium news/views wire
IntelliNews
Pro
IntelliNews- Belarus places $1.4bn Eurobonds amid failure to secure IMF loan
- EU extends Russian sanctions by six months
- Migrant flow diverts from Western Balkans to Bulgaria
- Rosneft-led acquisition of India's Essar completed, says CEO Sechin
- The numbers of foreigners visiting Albania continues to edge up as travel companies extol its virtues
- More from IntelliNews Pro