State enterprise System of Electronic Trading in Seized Property (SETAM) in 2017 could sell property for UAH 4 billion, Justice Minister of Ukraine Pavlo Petrenko has said.

"SETAM needs this year to double the figure of the previous year, and the bar of UAH 4 billion is absolutely available," he said at a press conference in Kyiv.

According to SETAM Director General Viktor Vishnev, in the first quarter of 2017 the volume of property sold by the enterprise grew by 1.7 times compared to the first quarter of 2016 and amounted to UAH 386 million, and the number of sold lots grew by 1.8 times, to 3,762.

At the same time, the value of assets sold for the entire period of SETAM's work as of April 20, 2017 stood at UAH 2.6 billion, while proceeds to the national budget from the company's activities amount to UAH 299.5 million.

"We sell 57% of lots with an increase in prices, 44% of lots are sold from the first auction... The increase in the price of lots that were sold at a price that is higher than the initial one was 24%," Vishnev said.

According to the minister of justice, the performance of SETAM in 2017 will depend, inter alia, on the effectiveness of introduction of the institute of private executives in the country.