Prevailing trends in Russia's economy favorable for mass privatization

Author: Alex Freedmann Section: Major Events of the Month

Issue: March 2012, Vol. 7, No.3

Tags: Artemyev

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Demonopolization of Economy

Igor Artemyev, the head of the Federal Antimonopoly Service, has called for immediate mass privatization of state properties. “Now, the market conditions are better than they were during the crisis. Therefore, mass privatization, which must include the natural monopolies, should be done right now.”

He also noted that the government had long wanted to reduce its share in the economy, but had to increase it because of the crisis. “The best way to achieve competitiveness in economy is to create competitive companies, and not monopolies. “By creating monopolies, one can get positive results only in the first stage, but thereafter stagnation will set in.”