Page 91 - RusRPTApr24

Siluanov said in December that his ministry has submitted a proposal to the government to reduce the state's stakes in a number of major companies in which it holds more than 50% and do so without losing a controlling interest.
"This could be tens, hundreds of billions. The list is in the government, we still have to discuss it," he said, adding that there are about 30 major companies where "one could think about reducing the state's stake and replacing [it] with private business."
"I don't know, one wants to hope for the best, maybe our commodities situation [in 2024] will be alright. [In 2023] we refrained from RUB1 trillion in borrowing because oil and gas did well. One would like to hope," Siluanov said in December, adding that the signs for oil prices at the moment are mixed but pointing more to low prices.
Oil and gas revenues surged in the first two months of this year thanks to high international oil prices, but state spending on defence surged even more, creating a RUB1.5 trillion budget shortfall.
91 RUSSIA Country Report April 2024 www.intellinews.com