Russia is considering issuing bonds in some of its largest companies as part of a privatisation plan to cover a possible budget deficit this year, Finance Minister Anton Siluanov said on Saturday. Russia's preliminary plan to reduce government stakes in companies including top oil producer Rosneft and state-controlled bank VTB is intended to stop the budget deficit from ballooning as its economy slides into a second year of recession.
Speaking on the sidelines of the annual congress of the governing United Russia Party, Siluanov said the sell-off could be achieved by issuing bonds which investors would be able to convert into a stake in the company within 3-5 years.
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