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Deputy Prime Minister Arkady Dvorkovich said the state’s share in the economy should be reduced through privatisations, but the main focus for the government at the moment is expanding the number and share of privately owned businesses.
"It's not very good that decisions are made in a relatively large economy by a small number of people," Dvorkovich said, speaking at the Moscow Stock Exchange Forum on April 10.
"There are two ways [to reduce the share of the public sector in the economy], the first one which we mainly used, is privatisation — there is still room for it. But I would not say that this is the main way now," Dvorkovich said, cited by Tass.
"The main way is to create new private companies and increase the volume of the private sector on the basis of a wide range of small and medium-sized enterprises, and by supporting the so-called national champions in the private sector, not only in the state sector," he stressed.
Estimates of the actual share of the state in the economy vary. A study by Federal Antimonopoly Services (FAS) put the share at over 70% of GDP, but most analysts think that is too high. Other studies estimated the share at 40%. BSC Global Markets chief economist Vladimir Tikhomirov discussed the issue in a recent podcast with bne IntelliNews “The cost of reform II – boosting incomes in a time fo austerity,” and concluded the share is about 50%.
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