Russia to Cut Budget Gap to 2.9% of GDP in 2013, Sell Assets
This article is for subscribers only.
Russia plans to cut its budget deficit to 2.9 percent of gross domestic product by 2013 as it sells state assets and increases taxes, Finance Minister Alexei Kudrin said.
The government plans to raise 883 billion rubles ($29 billion) by selling minority stakes in state-owned companies over the next three years, Kudrin told reporters late yesterday in Moscow. It may sell a holding in OAO Rosneft, Russia’s largest oil producer, within three to five years, he said.