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Revenues from privatization remain major source of budget revenues

October 01, 2012, 14:20 UTC+3
First Deputy Prime Minister noted that the Russian government expects 180 billion roubles of budget revenues from the privatization deals, which were struck last September
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GORKI, October 1 (Itar-Tass) —— The revenues from privatization remain a very important source of budget revenues, Russian Prime Minister Dmitry Medvedev said at a meeting with the deputy prime ministers here on Monday.

“We assume that now and in the future the revenues from privatization remain a very important source of state budget revenues,” the premier noted. Medvedev voiced his intention that all deputy premiers and the government in general will support this position.

Speaking on the situation on the markets, the premier noted that it is needed to orient at the market climate, “taking into account that it will be hardly extraordinary in the years to come over the general world situation. But, however, this situation is mobile.”

The prime minister also noted that contradictory opinions exist over the expediency of the privatization in general. However, Medvedev emphasized that “it is necessary to deal with the privatization and the government has recently taken several steps to speed up the privatization.” The prime minister recalled that he was speaking about it back at the previous top state post. Several privatization auctions have already been conducted.

For his part, First Deputy Prime Minister Igor Shuvalov noted that the Russian government expects 180 billion roubles of budget revenues from the privatization deals, which were struck last September. Shuvalov recalled that the Russian savings bank Sberbank placed the shares on September 17-18. Sberbank placed 7.58% of shares at the cost of 5.208 billion dollars. Meanwhile, the Phosagro Company has purchased 20% of Apatit’s stock. Meanwhile, the full package of SG Trans was sold. “The selling price exceeded the initial price,” Shuvalov noted. He added that 22 billion roubles of revenues are expected from this deal.

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