Kudrin calls for Russian privatisation programme to be delayed

Russian privatization: The  mass privatisation of state-owned assets should be put off for at least 18 months until the Russian economy recovers, former Finance Minister Alexei Kudrin suggested this week. Speaking at the World Economic Forum in Davos, he said this was particularly pertinent to Putin’s plans to sell off shares in energy companies such as Bashneft and Rosneft. “I think it is somehow strange to sell off oil companies at a time when the prices of crude oil are at the lowest point  and within the context of a deep recession,” he said. “I think oil prices will climb – albeit modestly – within a couple of years and…..that  these assets will cost considerably more then than they do now.” he said.
The government’s own funds or loans should be used to cover the budget deficit in meantime.