A part of funds being gained by the auction Ukraine must spend on budget deficit of the current year, Finance Minister Victor Pinzenyk announces on the air of 1+1 Channel. Such action does not conflict with the State Budget Act.
According to Pinzenyk, the deficit of the current has made 6.9 million hryvnas and Kryvorizhstal’s sale may cover it. 750 million hryvnas of privatization have been transferred and the rest of the sum will wait for “corresponding political steps.”
As a reminder, Mittal Steel won the bid for Kryvorizhstal. It was sold by $4.8 billion – the largest sum form privatization in Ukraine.
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