quinta-feira, 21 de outubro de 2010

Russia earmarks 900 state firms for public sale


Russia has announced further details of plans for its biggest privatisation since the 1990s - which could raise up to 1.8 trillion roubles ($60bn; £38bn).
The sale could involve the total or part-sale of stakes of up to 900 companies, including the oil giant Rosneft and Russian Railways.
The announcement was made by Russia's First Deputy Prime Minister, Igor Shuvalov.
Russia needs to raise money to cut its budget deficit.
That is estimated to be 5% of gross domestic product for this year.
Russia's last major privatisation was in the 1990s, when huge chunks of former state assets were widely sold, only to end up creating Russia's ultra-rich, powerful individuals, the oligarchs.
The reforms became hugely unpopular, and the Russian government's strategy then reversed to increase state control over assets, something it funded through its booming economy.
BBC News