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Privatization of distilleries brings more than one billion hryvnias to state budget

In Ukraine, 30 alcohol production enterprises have already been privatized for a total of more than 1.7 billion UAH. This is reported on the State Property Fund’s Facebook page.

Quote"A year ago, Ukraine, together with Belarus, were the only countries in the world with state monopolies on alcohol production and characteristic features—closed nature, unfair pricing, corruption, abuse, criminal cases, and a huge shadow market of alcohol. Today we can say with confidence that the demonopolization of the alcohol industry in Ukraine has taken place!" Taras Yeleyko, Deputy Chairman of the State Property Fund, said.

It is noted that the investors have already paid 1.05 billion UAH to the state budget, another 37 million were received as penalties and guarantee fees for refusing the auction results.

Recall that in the near future the next 3 auctions for privatizing alcohol assets—Vuzlove place of business, Trostyanets distillery, and Uladivka distillery plant—are to be held.

Context. From July 1, 2020, the state monopoly on alcohol production has been canceled in Ukraine. In total, the state intends to sell 41 distilleries that are part of the state-owned enterprise Ukrspyrt, and another 37 factories of the concern Ukrspyrt.

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