05:07 GMT +323 November 2019
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    Russia's 2018 Budget Earnings Expected at $2.6Bln From Rosneftegaz

    © AFP 2019 / ALEXANDER NEMENOV
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    The Russian Finance Ministry expects $2.6 billion in 2018 budget revenue and $2.3 billion the following year from earnings made by the state energy company Rosneftegaz, the ministry's draft budget materials published on Friday state.

    MOSCOW (Sputnik) — The 2017 budget is expected to receive $2.47 billion from Rosneftegaz's earnings, Finance Minister Anton Siluanov told reporters earlier in the day.

    Rosneftegaz owns 69.5 percent of Rosneft's and 10.97 percent of Gazprom's state-controlled shares.

    The Russian 2016 economic development plan specifies partial privatization of state assets to support budget revenue, which has suffered due to falling oil prices. Rosneft and Bashneft oil and gas companies, the ALROSA group of diamond mining companies, VTB bank, as well as the Sovcomflot maritime petroleum and liquefied gas shipping company, are among the companies to be partially privatized.

    The ministry forecasts its 2017 budget could generate $1.5 billion from VTB's privatization, or 10.9 percent minus 1 share. Sovcomflot's privatization could contribute to the 2017 budget almost $381 million, or 25 percent minus 1 share, the forecast adds.

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    budget, Rosneftegaz
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