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    AUDIT CHAMBER TO INQUIRE INTO NATURAL RESOURCES MANAGEMENT

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    MOSCOW, February 17 (RIA Novosti) - This year, the Russian Audit Chamber will look into the use of Russian natural resources, said Head of the Audit Chamber Sergei Stepashin.

    Russia has vast natural resources, but they are managed not effectively enough, said Stepashin.

    In his words, Russia ranks second in the world in terms of natural resources, and only 84th in terms of GDP per capita. We underestimate our own natural riches," said the head of the Audit Chamber.

    According to him, this will be quite a difficult effort.

    The chairman of the Audit Chamber also confirmed that his department planned to analyze privatization in Russia in the past 10 years. Auditors will also look into the privatization process on the basis of the previous checks and first of all concentrate on blatant violations, which were not so numerous, Stepashin said.

    Besides, the auditors will analyze the results of the privatization to see "where there is an effective owner, and where there are bankrupted enterprises," explained the chairman of the Audit Chamber. The Chamber will report about its conclusions to the president and the government.

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