The recent sale of shares of “Bashneft” company “Rosneft” cannot be called privatization. This statement was made on Wednesday by former Minister of Finance, the head of the Center for strategic research (CSR) Alexei Kudrin.

“Privatization of “Bashneft” was not. She’s just one government ownership has passed to another state-owned company. In this sense, the consolidation of state assets, but not privatization”, – quotes the ex-Minister TASS.
At the same time Kudrin said that Russia retains a lot of room for privatization in the oil sector.

“We have a lot of room in the privatization and in the whole oil sector and in the entire financial sector and in the telecommunications sector and in the transport sector. It is all sectors that are in the market. We always have alternative services provided by private companies. And we don’t need to keep them in the state,” – said Kudrin.

The state company is not currently needed in a number of sectors, the head of CSR. They, he said, needed only in certain industries which involve state security, and performance of individual functions that should not be left to the market in full volume.

Today, however, the price of the state assets that could be privatized, much less than before the 2008 crisis, Kudrin stated.

“If we talk about quantity, there are more than eight thousands enterprises with the state share. If we talk about the cost, then, of course, the first dozen (companies) is at a cost of 80%. Terms of prices – it changes all the time because it was significantly higher than before the 2008 crisis, at times. Now it is significantly lower. But I believe that we have a large reserve that could be privatized”, – Kudrin said reporters.

The Federal budget is not yet incorporated substantial proceeds from privatization in 2017-2019, however, and the Minister of Finance Anton Siluanov and the head of the MAYOR Alexei Ulyukayev has said that it is necessary to return to the question of large-scale privatization in the next three years.

We will remind, Alexey Kudrin Deputy Chairman of RF government – Minister of Finance from may 2000 to September 2011. 25 Sep 2011 Kudrin in conversation with journalists in Washington, where he participated in the meeting of the International monetary Fund, reported serious differences with the then Russian President Dmitry Medvedev and refused to work in the future government under his leadership after the 2012 elections. The next day, Medvedev sent Kudrin to resign.

30 April 2016: President Putin appointed Kudrin Deputy Chairman of the economic Council under the President. A few days earlier Kudrin headed the CSR informed the journalists that on behalf of Putin will be engaged in preparation of strategy of development of Russia after 2018. The programme should be ready by the summer of 2017 and, according to the head of CSR may become a de facto program of Vladimir Putin in the presidential election in 2018.

Kudrin: the sale of shares of Bashneft can not be called privatization 19.10.2016

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