12:57 28.12.2017

Cabinet okays arms trader Ukrspecexport's budget for 2018

Cabinet okays arms trader Ukrspecexport's budget for 2018

Ukraine's Cabinet of Ministers on December 27 approved the financial plan of state-owned arms trading firm Ukrspecexport for 2018.

The government projects that Ukrspecexport's net revenue in 2017 will be UAH 1.33 billion, which is 12.7% up on the target of 2017, a government source told Interfax-Ukraine.

Its net project next year is projected at UAH 132.69 million, which will be 13.1% up on 2017.

Ukrspecexport's portfolio of orders for 2018 is 5% larger than the target in 2017, however, the planned supply of equipment and services to the Armed Forces of Ukraine next year as part of the state order will remain at the level of 2017.

Ukrspecexport is an authorized state intermediary in exports and imports of goods and services that are subject to export control.

In December 2010, Ukrspecexport and its subsidiaries were included in state-owned Ukroboronprom Concern.

In 2016, Ukrspecexport posted UAH 108.03 million in net profit under the Ukrainian accounting standards, which was 17.58% up on 2015. Its net revenue grew by 16.95%, to UAH 2.105 billion.

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