Property Relations Ministry posts results for January to May 2003

The Russian Property Relations Ministry transferred 94.185bn rubles ($3.1bn) to the federal budget in the period from January to May 2003, against 13.812bn rubles ($454m) in the corresponding period of 2002, the press service of the ministry reported. The federal budget received 14.507bn rubles ($477m) in revenues from using federal property in the reported period, which was 67.3 percent higher than the planned volume. Some 930m rubles ($30.6m) were raised in dividends on shares owned by the government and 3.582bn rubles ($117.8m) were received from renting federal property.

The selling of state property and shares in joint stock companies by the Russian Federal Property Fund and regional property funds amounted to about 78.56bn rubles ($2.58bn) in revenues in the reported period. Revenues from selling land were 1.605bn rubles ($52.8m).