Siluanov Predicts Start of Major Privatizations in H2

GORKI. March 12 (Interfax) – Russia’s first major privatizations will begin in the second half of this year, Russian Finance Minister Anton Siluanov said.

“We have not considered the timing, but I think that in any event the start will be in the second half,” Siluanov responded when asked when the first major privatizations would begin during a meeting conducted by Prime Minister Dmitry Medvedev on the subject of mobilizing additional federal budget revenues.

The finance minister did not specify which would be the first. “These are detailed questions. We have not discussed timeframes and specific companies or priority at the outset of privatization,” he said.

Proposals for fulfilling privatization plans envisioned for this year have been considered, Siluanov said. “I point out that 427 billion rubles are built into the budget as a source of deficit-financing in the form of revenues from privatization. The question of replenishing this amount was also one of the subjects for today’s meeting,” he said.

Economic Development Ministry proposals for the list of enterprises the ministry suggests for privatization have also been considered, he said. “The entire range of amounts from these trillions (that the Economic Development Ministry suggests could be made on company privatizations) is an additional issue by the corresponding organizations that will not lead to additional budget receipts. It will simply be an increase in the capital of these corresponding enterprises,” he said.

Also, he said, it has been decided to maximally facilitate the possibility of selling state properties. “The decision was this, to maximally facilitate those proposals prepared by the Economic Development Ministry from the standpoint of fulfilling privatization plans,” he said.