Russia will sell shares in 11 state company

The Russian government has announced it will sell a minority stake in 11 factories owned by the state, to mobilize about 1,000 billion rubles (about $ 30 billion) .

oil company Rosneft will be a privatization Part - Photo: BBC.

The Russian government has announced it will sell a minority stake in 11 factories owned by the state, to mobilize about 1,000 billion rubles (about $ 30 billion).

According to BBC news, privatization programs of this department is the largest in Russia since the 1990s to today. Expected, the program will be started next year and will include a bank of Sberbank Sberbank and Rosneft oil company.

However, Mr Alex ei Uvarov of Russia Ministry of Economic Development, said the company RZhD state railway will not in the privatization programs of this department.

He Uvarow not specify the size of the shares will be mobilized. However, according to the BBC, all enterprises have been privatized parts of very limited extent.

This will be expanded, but Russia will continue to hold large shares have the right to adjust at all businesses in the program.

The BBC said that Russia is search for measures to prevent the budget deficit of this country. In the past decade, Russia's policy will prevent the privatization of state enterprises.

The change in this policy, oil pipeline company Transneft, state-owned bank VTB and hydropower companies will also sell their Rushydro part.

Russia's budget deficit has exploded during the economic crisis, the annual surplus.

Today 28/7, Russian Prime Minister Vladimir Putin said the budget deficit in 2010 may be over 5% of GDP. While, after years of strong growth, in 2009 Russia's GDP has fallen 7.9% level.

In the session on 29/7, the Russian government adopted a federal budget plan 2011-2013, with a deficit higher than originally expected. The expenditures in 2011 will increase to 10,400 billion rubles (344 billion), and in the next two years is 10,800 billion rubles (357 billion) and 11,100 billion rubles (390 billion U.S. dollars).

budget deficit budget year is expected to equal 3.6% of total domestic product (GDP) in 2012 will be reduced to 3.1% of GDP and in 2013 was 2.9%. Russian Finance Minister Alexei Kudrin said that, right up to 2015, Russia was able to balance the budget.

The level of Russia's budget spending increasing, mainly for defense . In 2011, spending the GDP of Russia increased 1.7% compared to the initially estimated. The government also plans to spend more budget for education, environmental protection and pay the national debt.

(According Vneconomy)