The head of the FAS said the achievement of the government’s “red line” in the economy


In an interview with TV channel “Russia 24”, Igor Artemiev said that the level of the state in the economy has reached a “red line”. “If we go on in this way, we simply provide totally ineffective resources in the economy, and the citizens from this will only get worse”, — quotes the head of the FAS, the Agency “RIA Novosti”.

According to him, Russia needs investment in private capital, primarily to address fiscal and social issues. First of all, in his opinion, it is necessary to create jobs and give every time new results that the business is doing much better.

Artemyev welcomed the privatization of non-core assets of natural monopolies. According to him, the assets of each monopoly, and pay the activities of these companies ordinary consumers, the expense of which someone swims in the pool, resting after work, receives additional education for their children or a free medical insurance policy. “All these things are made at the expense of citizens, this is unacceptable,” he said.

In December 2015 amid the worsening economic situation and falling oil prices, the Finance Ministry has proposed to increase budget revenue through privatization of state-owned stakes in major Russian companies. At a large press conference at the end of the year, President Vladimir Putin confirmed that the government may go for privatisation of state-owned companies to “burn the reserves”. In early February a meeting was held with members of the government, which Putin announced the conditions of large-scale privatization. Later, the Minister of economic development Alexei Ulyukayev said that the greatest chances for privatization this year are “Rosneft”, “Bashneft” and ALROSA.

On 20 February the first Vice-Premier Igor Shuvalov has signed the instruction on the preparations for the privatization of Rosneft, told two officials of the government. The document contains instructions to state representatives in the Board of Directors of Rosneftegaz to attract investment Advisor for the study of the structure and material terms of the transaction on sale of actions “Rosneft” with participation of the Ministry of economic development.

On 26 February there was information that the Ministry has prepared a draft presidential decree on amending the list of strategic enterprises that seek to reduce the size of the share of the Russian Federation in the authorized capital of “Bashneft” with 50,08 to 0% with the state retaining a “Golden share”, said the two officials of relevant departments and confirmed two Federal officials familiar with the contents of the document.