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Russia: Privatization Program Faces Many Obstacles
By David Rogovic and Rachel Ziemba
Extensive fiscal stimulus following the sharp economic downturn helped evaporate Russia’s budget surplus. In mid-2010, government officials announced a five-year, US$ 59 billion privatization program covering nearly 900 state-owned firms. While details are still scarce, the government plans to sell stakes in ten major firms by 2013, including the two…
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