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Privatization may bring Russia $10 bln a year for five years

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Revenues from privatization of Russian state-run property may bring $10 billion a year for five years into the country's coffers, Finance Minister Alexei Kudrin said on Wednesday.

Revenues from privatization of Russian state-run property may bring $10 billion a year for five years into the country's coffers, Finance Minister Alexei Kudrin said on Wednesday.

"We are saying that we will have a five-year privatization program of approximately $10 billion revenues from sales a year," Kudrin told a Reuters news agency summit, adding the government intended to keep only controlling stakes in large companies and banks offered for privatization.

Economic Development Minister Elvira Nabiullina has said previously that privatization revenues could amount to 700 billion rubles ($23.3 billion) in three years.

 

MOSCOW, September 15 (RIA Novosti)

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