The Moscow city government plans to raise some 20 billion rubles ($670 million) in 2011 through property privatizations, Moscow Deputy Mayor Andrei Sharonov told the Rossiiskaya Gazeta paper.
"According to preliminary estimations, privatizations may create 20 billion rubles for the city budget in 2011," Sharonov said. "But if major assets, such as the Bank of Moscow, are privatized, this figure could increase significantly."
Moscow Mayor Sergei Sobyanin announced plans in early January to sell shares in nearly half of the 433 state-owned properties in the Russian capital. He also said the city authorities were planning to privatize a number of facilities it owned in other regions of Russia.
Sharonov said that all facilities not related to government functions should be sold.
MOSCOW, January 24 (RIA Novosti)
