Gov't to get $3.1bn from selling state property this year

The Russian government is planning to raise more than 100bn rubles ($3.1bn) from selling state property in 2003, Deputy Property Relations Minister Yury Medvedev told journalists. He pointed out that at today's meeting the government had approved the additional list of enterprises and organizations to be privatized in 2003. These are 164 state stakes, 193 enterprises and 47 stakes in credit organizations.

According to the deputy minister, revenues from selling this property may exceed the planned sum by 15bn-20bn rubles ($470m-630m), if this process unfolds correctly. Medvedev specified that directly from selling the property the government planned to get about 51bn rubles ($1.6bn) and some 40bn ($1.3bn) were expected to be received in dividends for using state property and rent from real estate and lands.