Only 28% of Ukraine’s State-Owned Enterprises (SOEs) made a profit in 2020, according to research conducted by Ukrainska Pravda.
According to data from the Ministry of Economy of Ukraine, of the 3343 SOEs, 1458 (43% of the total) were operational as of 2020, and only 947 of those (28% of the total) made a profit last year.
Ownership of these enterprises is divided up among 87 different government bodies.
Ukrainian SOEs lost a total of Hr 51 billion ($1.87 billion) in 2020. Their total valuation stands at Hr 1.7 trillion ($62 billion).
Most of the losses are made up by the largest 15 SOEs. Of these, nine are in the red, to the collective tune of Hr 42 billion ($1.53 billion).
The largest loss was reported by NJSC Naftogaz of Ukraine, the largest oil and gas company in Ukraine. In 2020 the company lost Hr 19 billion ($685 million).
Dmytro Sennychenko, head of the State Property Fund, said in April 2021 that privatizing SOEs would add $430 million to the government budget this year.
This would be a sharp increase from previous years: In 2018 the state budget made $10 million from selling off state assets, in 2019 it made $21 million.
