The Kyiv City Council is aiming to transfer a debt of 2.28 billion owed by “Kyivmiskbud” to the state budget

Following a review of the financial activities of the Private Joint-Stock Company “Kyivmiskbud” from 2020 to 2023, the Temporary Control Commission of the Kyiv City Council has made a decision to shift the burden of paying off debts and finishing construction projects totaling 2.28 billion hryvnias to the state’s finances.

Despite examining the financial situation, the commission could not identify the origins of the unmet obligations amounting to 6.5 billion or determine the causes behind the accrued debts. Instead of clarifying these issues, the commission proposed recommending that the Kyiv City Council seeks compensation from the government for a projected loss linked to the completion of “Ukrbud” projects, totaling 2.28 billion hryvnias.

Despite ongoing issues with unfinished “Ukrbud” and “Kyivmiskbud” projects, claims of financial strain leading to bankruptcy for “Kyivmiskbud” appear manipulative and falsely created. The deputy contends that the company holds assets valued at 16.3 billion and outstanding obligations of 6.5 billion. Therefore, she proposes various cost-saving measures, such as selling land plots and parking spaces, reducing administrative expenses, and downsizing the company’s operations.