18-Oct-2010 12:17 PM

Russia considers Aeroflot sale to boost budget

Russia's Government has announced it is considering divesting part of its majority stake in Aeroflot to lower the country's budget deficit (AFP, 17-Oct-2010). Finance Minister Alexei Kudrin stated that the Government would continue to hold a controlling interest and foreign investors have already shown interest. Russia’s current budget deficit is 6.8%, which is aims to cut to under 4% through the sale of government stakes in oil companies, telecommunications, banks, railways and airlines.