20 February 2009

Chubais is ready to share money with the budget

Budget funds distributed to the capital of state corporations may partially migrate back to the budget. In particular, the Ministry of Finance is negotiating with Rusnano about the possibility of withdrawing deposits, Kommersant writes.

The Government is discussing these issues as part of the preparation of the draft of the new budget and intends to use the funds of some state corporations to finance the budget deficit in 2009.

The head of Rusnano, Anatoly Chubais, has no objections, but he is not going to "give" money to the budget either. He confirmed the possibility of transferring a significant part of the undeveloped funds to the budget for temporary use. "In a situation when budget expenditures are being cut, I do not consider it possible to protect the interests of the state corporation before the state interests, now the state needs money more," he explained to Kommersant.

According to Chubais, Rusnano planned to spend about 130 billion rubles until 2012, the return on investment was expected by 2015. Rusnano does not intend to revise the spending program and is ready to transfer money to the Ministry of Finance that cannot be disbursed by the state corporation in 2009, provided that the assistance "will be compensated" later.

In 2012-2014, Rusnano expects to receive additional funds in order to fulfill its tasks by 2015 – the volume of sales of nanotechnology products in the Russian Federation in 2015 should amount to 900 billion rubles.

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