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Section Institutional Problems Against this background the situation with rent revenues looked quite favorable where the government received rent (for the use of real estate and land plots) not being involved in the organization of business processes of renting companies and building the relations with then on the contract basis concluded, as a rule, for a specific period of time at the earlier agreed rates. Rentals from the federal property (RUR13.5 bln) reduced slightly, by 7.4%, being pushed back to the level of 2003-2004. At the same time land rent proceeds did not shrink but rather increased by 7% in 2009 reaching their absolute maximum value since 2000es.

Thus a certain reconfiguration of the federal budget revenue structure from the renewable sources occurred. The revenues from leasing of federal property became the most significant item (42.4% vs 19.1% in 2008). Dividends regardless of their sharp decline preserved their important place (31.8%) though in 2007 2008 they made half of all the revenues from the reviewed sources. Specific weight of revenues from land rent grew considerably (20.3% against 58% of all revenues from the renewable sources in 2006 2008) while the profit input transferred by FGUPs (5.5%) reached its highest value in 2003 (5.8%) for the period starting 2000.

In analyzing the revenues of the federal budget from privatization and sales of state property (Table 8) it should be noticed that from 1999 proceeds from sales of the major part of such assets (shares, and in 2003 2007 - land plots1) have been looked at as sources of funding of the budget deficit.

Table Federal budget revenues from privatization and sales of property (non-renewable sources) in 2000 2009, in mln rubles Sale of stock in federal ownership (2000 Year Total 2009 ) And other forms of equity participa- Sale of land plots Sale of various property tion (20052009 )# 2000 27167.8 26983.5 184.2001 10307.9 9583.9 119.62 217.5+ 386.5+0.4 (intangibles)2002 10448.9 8255.94 1967.05 226.2003 94077.6 89758.6 3992.37 316.2+10.2004 70548.1 65726.9 3259.39 197.3+1364.6+0.04 (intangibles)2005 41254.2 34987.6 5285.711 980.2006 24726.4 17567.9 5874.211 1284.2007 25429.4 19274.3 959.614 5195.2008 12395.0 6665.2+29.6 1202.016 4498.2+0.025 (intangibles)2009 4544.1 1952.9 1152.516 1438.# refers to internal financing sources to cover deficit of the federal budget, the amount of RUR29.6 mln for 2008 (Report on the execution of the federal budget as of January 1, 2009) refers to the federal budget revenues, but it is missing in the Law on the execution of the federal budget for 2008;

revenues from privatization of state-owned organizations included in the sources of internal financing of the federal budget deficit;

revenues from sales of lands and rent rights to lands in federal ownership (the land sites under privatized enterprises are shown separately) included in the federal budget revenues;

aggregate revenues from (1) sales of property in federal ownership included in the sources of internal financing of the federal budget deficit; (2) revenues from (i) apartment sales, (ii) sales of state production and nonproduction funds, transportation vehicles, other equipment and material values, also (3) revenues from sales of intangibles included in the federal budget revenues; ;

with RUR6 mln generated from sales of stock owned by the RF subjects;

In 2003-2004 with account of sales of rent rights.

RUSSIAN ECONOMY IN trends and outlooks proceeds from sales of land and intangible assets which have not been shown separately; included in the federal budget revenues;

proceeds from state-owned property sales (including RUR1.5 mln from sales of property owned by the RF subjects) included in the sources of internal financing of the federal budget deficit;

includes proceeds from: (1) sales of land plots under real estate facilities that have been in federal ownership before their disposal; to be credited to the federal budget; (2) sales of other land plots and sale of rights to conclude rent contracts thereto; (3) sales of land plots after the land property rights have been delineated; also sale of rights to conclude rent contracts thereto; to be credited to the federal budget and treated as sources of internal financing of the federal budget deficit;

sum of (1) proceeds from federally owned property sales that are referred to the sources of internal financing of the federal budget deficit, and (2) proceeds from sales of intangible assets referred to federal budget revenues;

includes proceeds from: (1) sales of land plots under real estate facilities that have been in federal ownership before their disposal; to be credited to the federal budget, (2) sales of other land plots and sale of rights to conclude rent contracts thereto; (3) sales of land plots after the land property rights have been delineated; also sale of rights to conclude rent contracts thereto; to be credited to the federal budget and treated as sources of internal financing of the federal budget deficit;

sum of (1) proceeds from federally owned property sales that are referred to the sources of internal financing of the federal budget deficit, (2) revenues from (i) apartment sales, (ii) sales of equipment, transportation vehicles and other tangible property to be credited to the federal budget; (iii) sales of ships utilization products;

(iiii) sales of GUPs property, property of institutions and military property; (iiiii) sales of products of utilization of weapons, military equipment and ammunition; (3) proceeds from sales of intangibles to be included in the federal budget revenues;

includes proceeds from: (1) sales of land plots under real estate facilities that have been in federal ownership before their disposal; to be credited to the federal budget (2) sales of land plots after the land property rights have been delineated to be credited to the federal budget, (3) sales of other land plots owned by the government before the federal ownership on land have been delineated and not designated for housing construction (the last statement refers to 2006 only), the proceeds are included in the sources of financing of the federal budget deficit;

proceeds from sales of tangibles and intangibles (less federal budget funds from disposal of confiscated and other property converted to the state income) include proceeds (i) from apartment sales, (ii) sales of FGUPS property, (iii) sales of property in operational management of federal agencies; (iiii) sales of military property, (iiiii) sales of utilization products of weapons, military equipment and ammunition; (iiiiii) sales of other property in federal ownership; (iiiiiii) sales of intangibles, referred to federal budget revenues;

proceeds from sales of tangible and intangible assets (less revenues in the form of profitable products of the state under PSA) and federal budget funds from disposal and sale of confiscated, heirless and other property converted to the state income, include revenues from (i) apartment sales, (ii) FGUPs property sales; (iii) sales of property in operational management of federal institutions; (iiii) sales of military property, (iiiii) sales of utilization products of weapons, military equipment and ammunition; (iiiiii) sales of other federally owned property, included in the federal budget revenues;

proceeds from sales of land plots in federal ownership after the land property rights have been delineated, included in the sources of financing of the federal budget deficit;

proceeds from sales of tangible and intangible assets (less revenues in the form of profitable products of the state under PSA) and federal budget funds from disposal and sale of confiscated, heirless and other property converted to the state income, proceeds from sales of sequestrated lumber include revenues from (i) apartment sales (ii) FGUPs property sales; (iii) sales of property in operational management of federal institutions; (iiii) sales of released movable and immovable military and other property of the federal executive authorities with the military service and the service equated thereto; (iiiii) sales of products of military designation available at the federal executive authorities within the framework of military and technical cooperation; (iiiiii) proceeds from sales of other federally owned property, included in the federal budget revenues;

proceeds from sales of lands in federal ownership (except lands of federal autonomous institutions) to be included in the federal budget revenues;

Section Institutional Problems proceeds from sales of tangible and intangible assets (less revenues in the form of profitable products of the state under PSA) and federal budget funds from disposal and sale of confiscated, heirless and other property converted to the state income, proceeds from sales of sequestrated lumber. Proceeds from sales of special feedstock and fissionable materials include proceeds from: (i) apartment sales, (ii) sales of property in operational management of federal institutions (except autonomous)1, (iii) sales of released movable and immovable military and other property of the federal executive authorities with the military service and the service equated thereto, (iiii) sales of utilization products of weapons, military equipment and ammunition; (iiiii) sales of products of military designation available at the federal executive authorities within the framework of military and technical cooperation (2008 only), (iiiiii) sales of utilization products of weapons and military equipment under the federal target program Industrial utilization of weapons and military equipment (2005-2010);, (iiiiiii) proceeds from sales of other federally owned property and proceeds from sales of intangible assets included in the federal budget revenues;

Source: Laws on the execution of the federal budget for 2000 2008; Report on the execution of the federal budget as of January 1, 2010; www.roskazna.ru; estimates of the authors.

In 2009 the federal budget revenues of property nature generated from non-renewable sources continued falling down sharply following the trend of the previous year.

Proceeds from stock sales fell almost by 3.5 times, from sales of various types of property by more than 3 times. While the proceeds from the latter source appeared to be comparable in absolute values (over RUR1.4 bln) with those in 2004 and 2006 and exceeded the level by 1.5 times, the proceeds from stock sales (leas RUR2 bln) reached its absolute minimal value for the entire period of 2000es. Unlike 2008, when the proceeds from land sales grew by almost 1/4, in 2009 they dropped though insignificantly (by 4%) reaching RUR1.bln. However this source (land sale proceeds) remained less valuable (in terms of weight) (about of all revenues from non-renewable sources, approximately at the level of 2006) vs the proceeds from stock sale (43%) and sale of various types of property (31.7%). The proceeds from stock sales made less than a half of all such revenues for the first time in the period of 2000es; the unit weight of the proceeds from sales of other property also shrank vs 2008.

The year of 2009 demonstrated a more than double fall of the overall volume of federal budget revenues from privatization (sales) and use of the state-owned property (Table 9).

Their absolute values (RUR 36.4 bln) vs 2008 reduced by more than 2 times and proved to be minimal for the entire period of 2000es. Still we can state that this value has exceeded the target figure voiced out at the working meeting of the RF Government Chairman with Yu.

A. Petrov, Head of Federal Property Management Agency held in the mid of July 2009 where the latter expressed his assurance in that the Agency would remit to the budget about RURbln in 2009 2.

Also less proceeds from sales of FGUPs property.

www.rosim.ru, 16.07.2009. It should be noted, however, that the Federal Property Management Agency administers not all the revenues connected with the use of the state-owned property and its privatization.

RUSSIAN ECONOMY IN trends and outlooks Table Structure of the federal budget revenues of property nature generated from various sources in 2000Aggregate revenue from privatiza- Revenue from the use of stateRevenue from privatization (nontion (sales) and use of state-owned owned property (renewable Year renewable sources) property sources) RUR, mln. % to total RUR, mln. % to total RUR, mln. % to total 2000 5041.3 100.0 27167.8 53.9 23244.5 46.2001 39549.8 100.0 10307.9 26.1 29241.9 73.2002 46811.3 100.0 10448.9 22.3 36362.4 77.2003 135338.7 100.00 94077.6 69.5 41261.1 30.2004 120798.0 100.0 70548.1 58.4 50249.9 41.2005 97357.4 100.0 41254.2 42.4 56103.2 57.2006 93899.8 100.0 24726.4 26.3 69173.4 73.2007 105761.25 100.0 25429.4 24.0 80331.85 76.2008 88661.7 100.0 12395.0 14.0 76266.7 86.2009 36393.4 100.0 4544.1 12.5 31849.3 87.Source: Laws on the execution of the federal budget for 2000 2008; Report on the execution of the federal budget as of January 1, 2010; www.roskazna.ru; estimates of the authors.

In 2009 the trend of increasing weight of the renewable sources in the structure of aggregate revenues from privatization (sales) and use of the state-owned property had further developed. The share of revenues from the use of the state-owned property was 87.5%, being the highest in the 2000es. The share of revenues from privatization and sales of property was minimal 12.5%.

If in 2008 the revenues from the use of the state-owned property played a buffer role, not going lower than the 2006 level, in 2009 they exceeded the similar figues for 2000-2001 only when the actions were performed under the Concept of Management of State-Owned Property and Privatization in the Russian Federation in 1999, while the revenues from privatization and sales of various types of property proved to be minimal for the entire period of the 2000es.

5.1.5. Changes in the legislative and normative framework regulating the public sector The year of 2009 was marked by introduction of a number of important innovations in the legislative and normative framework regulating activities of the unitary enterprises and economic entities where the government has its stake (participates). Indeed, these innovations are going to influence seriously the property policy of the federal government in the near future.

Of priority is Regulation of the RF Government of December 31, 2009 No 1188.

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