President Petro Poroshenko has declared earnings of Hr 123.6 million or about $4.4 so far this year, according to the latest update to the Ukrainian head of state’s electronic assets declaration.
The sum is seven times more than the Hr 16.3 million or $580,000 the president made in 2017. Poroshenko usually publishes updates to his assets declaration every two months.
In the latest update on Nov. 2, Poroshenko declared another Hr 1.3 million ($46,430) in income on interest from deposits he has in the International Investment Bank – in total, he has declared Hr 9.3 million ($332,000) in interest income from this bank so far in 2018.
Poroshenko owns the International Investment Bank, holding a 9.9 percent stake personally and 50.1 percent through his company Prime Assets Capital.
Prime Assets Capital is the biggest source of the earnings that Poroshenko has declared this year, bringing him Hr 84.7 million ($3 million) in dividends. The investment fund, which manages the dozens of companies in which Poroshenko has an interest, is 100-percent owned by the president.
Poroshenko also declared that he had received Hr 28.8 million ($1 million) for transferring securities and corporate rights to the Ukrainian Finance Ministry.
Another Hr 777,000 ($27,750) in income came from the sale of real estate to a private buyer.
Like all state officials, President Poroshenko is obliged to submit a full, final declaration of his income in 2018 before May 2019.
