Russian Fin Min removes Sovcomflot sale revenue from ’17 budget

MOSCOW, Oct 6 (PRIME) -- The Russian Finance Ministry has removed revenue from privatization of shipping company Sovcomflot from the 2017 budget plan, according to documents seen by PRIME on Friday.

“A draft law envisages changes in the source of domestic financing of the federal budget deficit: a lower income of the federal budget from the sale of shares and other forms of participation in capital by 23.7 billion rubles, mainly due to exclusion of money from privatization of the Sovcomflot stake from the forecasted data,” the document read.

The current 2017 budget plan envisages privatization revenue at 42.1 billion rubles.

(57.5811 rubles – U.S. $1)

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