Cabinet decides to increase charter capital of Naftogaz Ukrainy by 2.9 times

The Cabinet of Ministers of Ukraine has decided to increase the charter capital of national joint-stock company Naftogaz Ukrainy by 2.9 times or UAH 104.61 billion, to UAH 160.45 billion.

The amendments to the company's regulations were made by cabinet resolution No. 362 of June 4, 2015.

As reported, the charter capital of Naftogaz Ukrainy is increased to cover the company's deficit. As a rule, the company exchanges the newly issued shares to government domestic loan bonds.

According to a memorandum with the International Monetary Fund (IMF), Ukraine plans to cut the deficit of Naftogaz Ukrainy to 3.1% of GDP.