Ukraine's State Property Fund will liquidate 1,278 state-owned enterprises

The State Property Fund decided to liquidate 1,278 state-owned enterprises out of 2,364 under its management, reported the Fund's press service.

SPFU notes that 82% of enterprises under management are non-performing assets that exist only on paper and have millions of accumulated debts.

The Fund also prepared draft law No. 3037 on the liquidation of state-owned enterprises, which makes the liquidation procedure self-supporting and will provide an opportunity to repay the debts of these enterprises.

The liquidation of non-performing assets will allow to reduce the debt burden on the budget, return debts accumulated to employees, create a new business using the property of loss-making enterprises, and improve and develop the Ukrainian economy.

By the end of 2023, the Fund plans to manage about 1,200 more state-owned enterprises.