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Financial Analytics: Science and Experience
 

Privatization in Russia: reloading

Vol. 8, Iss. 28, JULY 2015

PDF  Article PDF Version

Received: 16 April 2015

Received in revised form: 8 June 2015

Accepted: 17 June 2015

Available online: 26 August 2015

Subject Heading: Economic policy

JEL Classification: 

Pages: 30-38

Mirontseva A.V. Russian State Agrarian University - Moscow Agricultural Academy named after K.A. Timiryazev, Moscow, Russian Federation
miralav@yandex.ru

Mirontsev R.N. ООО Frakht, Tver, Russian Federation
romemir@gmail.com

Importance The State revenue fell dramatically due to the economic crisis, which resulted from sanctions imposed by the USA and its satellites. Budgetary revenue is insufficient to cover the government spending. The budget sequestration, curbing social programs and increasing the retirement age are one of the most frequent proposals aimed to tackle the existing situation. However, such methods escalate social tensions. Therefore, budget replenishment gains special relevance and significance in the current circumstances.
     Objectives The objective of the research is to prove that the State may legitimately claim titles for enterprises or compensation payments to indemnify damage caused with 'loans-for-shares' auctions and create an instrument for influencing owners.
     Methods Analyzing publicly available sources of information, regulatory documents, economic literature, we identified and summarized facts that helped reach the objective.
     Results As the research shows, the objective is attainable. If certain conditions are met, the State may legitimately recover its rights, thus replenishing the State budget.
     Conclusions and Relevance We conclude that during the crisis, the State must timely and legitimately respond to activities of those shareholders, who almost made their entities teetering at the verge of bankruptcy due to their inefficient management, thus escalating the already complicated social situation.

Keywords: assets, crisis management plan, privatization, cession, bankruptcy

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