Ukraine to Sell 20 State-Owned Companies to Fund Military Amid $5 Billion Shortfall: New York Times

Jun 12, 2024, 10:31 AM

The Ukrainian government is planning to auction off approximately 20 state-owned companies to address a $5 billion shortfall in military spending. The privatization effort, which includes assets such as the Ukraine Hotel, a shopping center in Kiev, and mining and chemical enterprises, aims to bolster the economy and support the military amid the ongoing war with Russia. Deputy Economy Minister Oleksiy Sobolev stated that the budget is in deficit and emphasized the need to find alternative funding sources to maintain macroeconomic stability and assist in the war effort, according to the New York Times.