The total profit of state companies in Ukraine in 2016 is expected to exceed Hr 20 billion, First Deputy Minister of Economic Development and Trade of Ukraine Yulia Kovaliv has stated.
“Today we have financial plans for most state-owned enterprises, and we expect that the losses of the companies will reduce significantly. In fact, as for fiscal plans on the top 50 companies – only two companies presented unprofitable fiscal plans. Thus, we expect the aggregate profit of state companies will be more than Hr 20 billion,” she said at a briefing.
According to the Ministry of Economic Development and Trade, the cumulative loss of the top 100 state-owned enterprises declined from Hr 119 billion in 2014 to Hr 42.6 billion in 2015: the total loss of loss-making enterprises decreased from Hr 124.5 billion to Hr 56.4 billion, while the total profit of profitable enterprises rose to Hr 13.8 billion from Hr 5.5 billion respectively.
Kovaliv also reported this year the credit indebtedness of state enterprises is expected to fall by almost 5%
According to the ministry, the most profitable state-owned enterprises in 2015 were Ukrenergo, Ukrhydroenergo, Energoatom, Turboatom and the Ukrainian Authority of Sea Ports.
