Moscow: wave of privatizations
In search of money, and anxious to give pledges of liberalism to the business community, the Russian state will sell $ 29 billion 22 billion euros of assets over the period 2011-2013. It is the largest wave of privatization initiated since liberalization of the chaotic Russian economy in the 1990s.
Investors were on the verge of losing patience. Ten months have passed since the announcement last September of a privatization plan. Wednesday, cutting short the rumors, the finance minister, Alexei Kudrin liberal, has finally confirmed: "We will sell a significant portion of our assets in state enterprises, while keeping the blocking majority."
The choice of companies is not yet finalized. The government is working on a list of eleven companies, including banks VTB and Sberbank and Rosneft, Transneft and oil.The Russian railways have been removed from the list at the request of Alexei Kudrin.
According to Russian media, the government must decide between the Ministry of Finance, ready to keep only 51% of assets, and the Ministry of Economic Development, which denies that the state ownership falls below 75%.
Reducing the budget deficit
Therefore unlikely that privatization begin "by the end of the year," warns Elvira Nabiullina, Minister of Economic Development: "We are working to accelerate and increase the volume of privatization," she explained yesterday emerging from a cabinet meeting devoted to the 2011-2013 budget bad credit pay day loans.The transfer of assets should be done gradually, the pace of 9-10000000000 of $ 8 billion euros per year for three years.
According to the Ministry of Finance, the privatization plan is to reduce the budget deficit from 4% in 2011 to 3% in 2012 and 2% in 2013.
But according to some, this is not the main reason: "To curb its deficit, Russia has its sovereign wealth, she did not need privatization. This is done for the Government to send a signal to markets, to show them that the plan to make Moscow an international financial center is taken very seriously, "says Natalya Orlova, chief economist at Alfa Bank.
Since the establishment, on July 7 by President Dmitry Medvedev, a group working on the creation in Russia of an international financial center, the business does not rustle as this: "This is to give investors the opportunity to get used to Russia, "said Natalia Orlova.
According to Alexei Kudrin, Russia's potential is comparable to that of "Dubai, Beijing or Shanghai" and is well placed to trade titles: "The MICEX Stock Exchange held, according to various indices of places from 10th to 19th, RTS Stock Exchange and is ranked ninth for trade in products, "he recalled in June.
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