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Business companies in which SUEs, includ- more than 50% of equity interest (shares) Date Total* ing state-owned Public agencies is held by enterprises public sector business the public sector companies as of July 1, 2008* 77461** 9864 62571 3930 as of January1, 2009* 75878** 9144 61831 3795 as of July 1, 2009* 77082** 8706 63019 4007 as of 76658** 8122 63087 4089 January 1, 2010.* as of July 1, 2010.* 74867** 7230 61493 3915 * accounting of federal property is kept pursuant to the order of the Government of the Russian Federation dated July 16, 2007 On Improving Accounting of Federal Property, No. 447 ;

** including organizations whose state registered articles of association do not contain specific types, but net of joint-stock companies in which more than 50% of equity interest (shares) is held on the basis of joint public and foreign ownership.

Source : On the development of the public sector of the economy in the Russian Federation in H1 2008 (p. 87), in 2008 (p. 7), in H1 2009 (p. 7), in 2009 (p. 7), in H1 2010. (p. 7). ., Rosstat, 20082010. The estimates were made by the Gaidar Institute for Economic Policy.

It can be seen from Table 2 that over two years the total number of public sector organizations reduced (between July 1, 2008 and July 1, 2010.)1 by 3.3% (or by almost 2,6 thousand units) to total about 74,9 thousand units as of July 1, 2010.

It is the 26.7% reduction (or by more than 2,6 thousand units) in the number of unitary enterprises that was mainly responsible for the foregoing result. Much less reduction was observed in the number of agencies by no more than 1.7% (or by almost 1,1 thousand units).

As of July 1, 2010, the number of business companies in which more than 50% of equity interest was held by the public sector saw no changes over the two years, while the number of business companies in which more than 50% of equity interest (shares) was held by public sector business companies, doubled. The number of such companies grew up by more than 1140 to total more than 2,2 thousand as of July 1, 2010 thus reaching a historical maximum throughout the entire period of the 2000s.

It should be noted, however, that the foregoing trends were observed mostly within a timeframe covered in the latest statistical data (the period between mid-2009 and mid-2010), be The date of July 1, 2008 was used as the comparator, because by the moment of onset of the crisis in September 2008 as well as in mid-2008 and 2009 the total number of public sector organizations was almost equal to the number reported early in 2001 (more than 77 thousand units). At that moment, however, unitary enterprises accounted for a much bigger share against agencies in its structure. Moreover, it was not until mid-2003 when business companies in which more than 50% of equity interest (shares) was held by public sector business companies, were included into the statistical reports.

Section 6.

Institutional Problems cause, as of July 1, 2009, the total number of public sector organizations were little different from the respective value recorded as of July 1, 2008, and it is only unitary enterprises that showed reduction among all other types of legal entities in that period.

In the meantime, the total number of public sector organizations reduced by almost 3% (or by more than 2,2 thousand units) over a year between mid-2009 and mid-2010. The number of entities reduced for all types of legal entities, except for business companies in which more than 50% of equity interest (shares) was held by public sector business companies.

It is a 17% reduction (or by almost 1,5 thousand units) in the number of unitary enterprises that was mainly responsible for such a result. Though reduction in the number of agencies was much smaller, by no more than 2.4%, it was almost the same as for unitary enterprises in absolute values. The number of business companies in which more than 50% of equity interest was held by the public sector, reduced by 2.3% (or less than 100 units). It is worth noticing that the number of business companies in which more than 50% of equity interest (shares) was held by public sector business companies, increased significantly (by almost 1,7 times), nearly 900 units.

The crisis of 2008 - 2009 made it important to answer the question on how the crisis effected the participation of the state in the economy as producer of goods (works, services). It is only in part that the Rosstats monitoring supports the opinion about growth in the stateowned share in different final performance indicators (Table 3).

Table Public sectors participation share in 2007 2010, % HIndicator 2007 2008 Volume of shipped goods produced by the company, completed works and services w\o subcontracting :

- mineral recourses production 12.8 13.5 11.5 10.- fuel and energy recourses production 11.8 13.2 11.3 9.- manufacturing sector 84 8.5 9.5 8.- production and distribution of electric power, gas, and water 11.4 13.0 14.0 18.Scope of construction works performed w\o subcontracting 4.0 3.6 3.8 3.Passenger turnover at transportation companies * 65.9 63.9 63.2 55.Volume of commercial transportation (dispatch) of cargos by transportation companies 72.9 71.1 76.6 78.(net of companies involved in pipeline transportation) Commercial cargo turnover performed by transportation companies (net of companies 94.6 94.3 93.8 92.involved in pipeline transportation) Communication services ** 9.8 9.9 13.9 13.In-house research and development costs 72.4 72.6 74.4 71.Volume of paid services rendered to the general public 16.4 16.3 16.5 18.Capital investments from all sources of financing *** 19.5/ 21.5/ 22.8/ 21.8/ 15.0 15.9 17.1 15.Net proceeds from sales of goods, works, services (net of VAT, excise taxes and other 10.2 9.8 10.6 17.similar mandatory payments) Average staffing number 24.9 24.0 24.6 24.* net of companies involved in municipal passenger electrical transportation ;

** net proceeds from sales of goods, works, services (net of VAT, excise taxes and other similar mandatory payments) ;

*** in the numerator, net of small business entities.

Source : On the Development of the Public Sector of the Economy in the Russian Federation in 2007 (pp. 9, 42, 90-91, 92, 103, 134, 136, 143144, 164), in 2008 (pp. 13, 43, 4546,47, 53, 6163, 6768, 88), in 2009 (pp. 13, 45, 4748, 49, 52, 6062, 6667, 87), in H1 2010. (pp. 13, 44, 4647, 48, 51, 5456, 6061, 81). ., The Federal State Statistics Service (Rosstat), 2007 2010. The estimates were made by the Gaidar Institute for Economic Policy.

RUSSIAN ECONOMY IN trends and outlooks However, as it can be seen from Table 3, in 2009 and H1 2010, like throughout the entire period of 2000, that the public sector had an insignificant share in most indicators (no more than 1015%), with a slightly bigger share in the field of investments (more than 1520%) and employment (2425%), and a substantial share only in the field of transportation (more than 6090%, depending on an indicator) and in-house research and development costs (more than 70%).

In addition, all of the official statistical reports highlighted growth in the state-owned share in 2009 2010 against 2007 2008 in the field of production and distribution of electric power, gas and water, communication services, capital investments, paid services to the general public, and such a generalized financial indicator as net proceeds from sales of goods, works, services (net of VAT, excise taxes and other similar mandatory payments) 1.

On the other hand, the state-owned share decreased in the field of mineral resources production (above all, production of fuel and energy resources). As a result, in H1 2010 the public sectors contribution in the field of production of fuel and energy mineral resources dropped below 10%, for the first time since 2007. The same trend has been developing in the field of passenger turnover of transportation companies and in-house research and development costs.

Taking a closer look at the situation, one can see that the public sector was dominating only in a few of the industries (railway cargo shipment and passenger transportation, forest regeneration, production of sodium carbonate) at the 2008 2009 year-end.

In most other cases the public sector accounted for less than 20%, save for production of sodium chloride, ethyl alcohol made of food raw material, railway broad gouge sleepers, a few types of machine building products (tractor grain drills (2008), civil helicopters (2009), long-haul freight car, radio receiving equipment), all types of paid services, where the stateowned share remained less than 50%.

The same situation was observed in H1 2010, except that the public sectors contribution in the production of sodium chloride, including sea water and saline solutions, dropped below 10%, whereas, on the other hand, production of externally powered broadcasting radio receivers, and helicopters, exceeded 50% of the total output of these types of products.

On the other hand, there are three important factors which have to be taken into account in making quantitative assessment of the public sector.

The first factor concerns completeness of accounting of the property owned by public agencies. Among the dates to be focused on is March 2010, when the Federal Agency for State Property Management published information on that the federal property register could be deemed to have been completed for the first time since 1991.

This information provides a perfect picture of the real quality of administration of the economic policy pursued by the federal government, in particular the federal governments direct functions. Suffice it to say that about 12 years have passed since the date of approval of the Provision on Accounting of Federal Property and Maintaining Federal Property Reregisters by the Order of the Government of the Russian Federation No. 6962 dated July 3, 1998, let alone the acute need in such information back in the first half of the 90s, at least by the mo However, the data on the H1 2010 must be supported by data on the current year as a whole, both for this indicator and production and distribution, electric power, gas and water, paid services to the general public.

The Order ceased to be in force under the Order of the Government of the Russian Federation dated July 16, 2007, No. 447, On Improving Accounting of Federal Property which regulates accounting of federal property under the new Provision.

Section 6.

Institutional Problems ment when the cheque privatization completed in mid-1994, when the privatization process remained quite intensive. However, completeness of the registry prepared to date is questionable, because the Federal Agency for State Property Management itself admits that about 1,5 K legal entities failed to provide information on whether or not they own any assets of federal property.

The issue of completeness of federal property accounting can be well illustrated by comparing the data published by the Federal Agency for State Property Management and the Ministry of Economic Development and Trade the Russian Federation (Table 4).

Table Changes in asset accounting in the federal property register including Date In hard copies % of the number of assets acin electronic form counted in hard copies as of 5 September 2007 1,293,as of January 1, 2009 701,361 * 14,096 2.as of 15 February 2010. 1,304,302 1,273,759 93.as of 15 May 2010. 1,369,741 1,367,128 ** 99.as of 15 September 2010. 1,483,856 1,482,266 99.* on the other hand, the Progress Report for 2008 issued by the Federal Agency for State Property Management specified that, as of January 1, 2009, the register contained information on the following assets owned by title-holders under a relevant corporeal right: 354,085 immovable assets and 240,365 movable assets (net of federallyowned business companies and joint-stock companies which are subject to a special right of participation Golden Share in their management );

** as of June 7, 2010.

Source :, www.rosim.ru, www.economy.gov.ru, The Progress Report for 2008 issued by the Federal Agency for State Property Management, M., 2009.

For example, the number of assets, which the Federal Agency for State Property Management reported as registered in the federal property register early in 2009, was registered in the same as of September 5, 2007 (since September 6, 2007, accounting of federal property, maintaining of the federal property registry and provision of information from the same have been governed by the Provision on Accounting of Federal Property approved by the Order of the Government of the Russian Federation dated July 16, 2007, No. 447), according to the data published by the Ministry of Economic Development and Trade the Russian Federation.

According to the data published by the Ministry of Economic Development and Trade, a hardcopy inventory of the federal property in the state federal property database was completed by the beginning of the summer of 2010, before the Order of the Government of the Russian Federation dd. July 16, 2007, No. 447, came into force.

Over the recent few years, a lot of efforts have been made in copying the relevant information into electronic files to enter into the Automated System of Federal Property Accounting, which in 2010 allowed information in hard copies to be fully copied to e-files.

Logically, the issue of completeness in accounting can be referred to the assets owned by constituent territories of the Russian Federation and local government bodies, although it can be assumed that the very logic of the crisis, numerous functions and obligations they have to perform as a result of delineation of authorities in the mid-2000s among different levels of power must have prevented any growth in assets owned by the regions and municipalities in Russia.

The second factor concerns complexity of the assessment of state-owned share in different resulting data, because the data published by the Rosstat, which is based on the definition set RUSSIAN ECONOMY IN trends and outlooks forth in the government documents, fails to provide a true picture of the situation in the Russian economy.

Based on the Order No. 1 issued on January 4, 1999 by the Government of the Russian Federation (as amended by the Order of the Government of the Russian Federation dated December 30, 2002, No. 939), it includes four types of economic agents at the federal and regional levels :

state unitary enterprises on the basis of economic control and operating management rights (state-owned) ;

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