Deputy Finance Minister Moiseev announced the need for large-scale privatization
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“Large privatization” in Russia should take place, but it is necessary to understand what to sell, as well as to form a market, said Deputy Finance Minister Alexei Moiseev. He noted that no one wants a repetition of “loans-for-loans auctions”.
“I believe that a large privatization will have to take place, but we need to understand who to sell to. If we sell it now, it will be like the history of 1994, these are loans-for-shares auctions, in my opinion, that’s what they called it, but no one wants this, of course,” Mr. Moiseev said at the XI St. Petersburg International Legal Forum.
Mr. Moiseev recalled that the issue of privatization was raised in the media – in particular, about this in his article for RBC in early April wrote President – Chairman of the Board of VTB Andrey Kostin. Mr. Kostin stated in the article that the money for building a new model of the Russian economy can be obtained as a result of privatization. “The transfer of state property to private hands on transparent and market terms is a tool that has repeatedly proven its effectiveness,” he wrote.
“In fact, no one is against it, the problem is that we first need to fulfill a number of instructions from the president on the formation of an internal investor,” said Mr. Moiseev.
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