Cabinet allows Ukroboronprom to transfer less money to budget

The Cabinet of Ministers of Ukraine has lowered the net profit, which Ukraine's state-owned defense giant Ukroboronprom should transfer to the state budget, from 75% to 30%.

The relevant decision was taken at a Cabinet meeting on Wednesday, an UNIAN correspondent reports.

Read alsoIMF mission postpones Ukraine visit - source"The draft regulation provides for a reduction to 30% of the net profit, which shall be transferred by Ukroboronprom to the state budget. As you know, the current rate is 75%. The reduction to 30% will take place from January 1, 2016," said Ukrainian Finance Minister Oleksandr Danyliuk, while presenting the government decision.