UPDATE: Russia plans 500 bln rbl revenue from privatization in 2017

(Adds comment in paragraph 4)

MOSCOW, Nov 10 (PRIME) – The Russian state coffers will receive 490–500 billion rubles, besides the 138 billion rubles which are already envisaged by the 2017 budget, from privatization, Deputy Economic Development Minister Yevgeny Yelin said at a meeting with legislators on Thursday.

“Talking about the estimate, what remains outside the budget, what we count on is at least 490–500 billion rubles in 2017 that we will be able to receive from privatization of large stakes,” Yelin said.

Yelin said that the ministry has suggested including Sberbank on the 2017–2019 privatization list. “This is what is included in the draft privatization plan… Anyway what I have said, what we have said, what is being considered – Russian Railways, Novorossiysk Commercial Sea Port (NCSP), a lot more objects. We are considering Sberbank as well. Not in 2017, in a three-year period. ”

Deputy Finance Minister Alexei Moiseyev said that the ministry does not rule out selling a small stake in Sberbank while retaining state control. “Since our stake in it is 50% plus one share and a voting stake of about 52%, we can sell the difference, a small one,” he said.

According to Yelin, there is consensus that VTB and Sovcomflot must be sold in 2017, while the rest of the 2017 privatization list cannot be announced so far.

(63.8928 rubles – U.S. $1)

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