Finance Minister says Russia may privatize some assets in 2024

MOSCOW, Oct 10 (PRIME) -- The Finance Ministry has suggested that the government privatize some companies in 2024 keeping a controlling stake, Minister Anton Siluanov said in an interview to Rossiya 1 television channel aired on Tuesday.

“I can say that we have another resource, we have privatization, and we could consider additional sales of some state assets next year and attracting more private business to the state enterprises without losing control of the state,” he said.

He refused to mention any companies that could be privatized. But privatization is one of the sources of covering budget spending which should hit a record of 36.5 trillion rubles in 2024, he said.

If the economic situation improves, the ministry may even consider amending the borrowing plan for 2024, he said, adding that the government plans a 500 billion ruble injection into the National Wealth Fund next year.

A favorable condition of the external markets would also allow the government to replenish the National Wealth Fund in 2023 although some energy revenue of the budget will be spent to replace internal borrowing this year.

“The amount (of contribution) will exceed 1 trillion rubles, our estimates show that it would amount to about 1.2 trillion rubles. That is why this year the National Wealth Fund will grow thanks to the favorable circumstances in spite of the fact that we will use a part of the oil and gas revenue to replace the sources of borrowing,” he said.

(101.3598 rubles – U.S. $1)

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