Ulyukayev: we cannot postpone privatization anymore

Ulyukayev: we cannot postpone privatization anymore

The Minister of Economic Development of Russia, Alexei Ulyukayev, believes that large-scale privatization deals have to be carried out in adverse conditions, as they cannot be postponed in the current budget situation. However, according to him, these deals need to be effective and transparent.

"In 2014-2015, the market fell and continued to fall, while we were waiting for the situation to change," the head of the Ministry of Economic Development said, adding that "now we realized that there is nothing else to wait for."

"The budget situation is critical, the general turbulence of the financial markets does not give us reason to expect some rebound, recovery," he said.

According to Ulyukayev, "the challenge is to hold effective and transparent privatization deals in an extremely unfavorable market."

He pointed out that several years ago the authorities learned to hold very efficient and transparent privatization procedures in the growing market. "In 2011-2013, brilliant deals were held," Interfax cited the minister as saying.

The head of the Russian Federal Property Agency, Olga Dergunova, said that expanding the list of major companies to be privatized in 2016 is also under discussion.

Recall, Russian President Vladimir Putin held a meeting on privatization. He stressed that, as a result of privatization, the state should not lose control of strategically important enterprises. 

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