UKROBORONPROM PAID UAH 55 MILLION SALARY ARREARS

Ukroboronprom has started to pay salary arrears for employees of the enterprises-members of the Concern.
As for today UAH 55 million of debt have already been repaid to the employees of the marine and armored divisions enterprises. This is 10% of the total debt.
By the end of 2019, it is planned to repay a total UAH 101 million for 15 enterprises. This is the first effect of systemic solutions on financial recovery of Ukroboronprom. Debt repayment has become possible due to the closure of internal debt.
In addition, thanks to effective communication between the enterprises, Ukroboronprom has reduced the internal debt for UAH 160 million, and today the total amount of debt is UAH 344 million. The Concern has stabilized 4 enterprises: Kharkiv Machine Building Design Bureau named after A.A. Morozov, Zhytomyr and Mykolaiv Armored Plants and Kherson State Plant “Pallada” among them.
Ukroboronprom continues the enterprises’ analysis and updates the information regarding the debts and the process of its repayment.