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- State-owned calculation: in 2024, the Federal Property Management Agency provided budget revenues of over 473 billion rubles
State-owned calculation: in 2024, the Federal Property Management Agency provided budget revenues of over 473 billion rubles
By the end of 2024, the Federal Property Management Agency provided revenues to the Russian federal budget in excess of 473 billion rubles with a plan of 405 billion rubles. Of these, 307 billion rubles are accounted for by dividends from state-owned companies. This was announced by the head of the department, Vadim Yakovenko, at an expanded meeting of the Board of the Federal Property Management Agency. Izvestia investigated how much money is planned to be received this year and for what purposes the money will be used.
Continuation of work
The press service of the Ministry of Finance reminded Izvestia that the key task of the ministry for 2025 is to maintain the dynamics of budget revenues from the sale and use of federal property.
In particular, more than 400 billion rubles of dividends should be provided to the budget this year. The Ministry of Finance plans to step up the privatization of property entering the treasury, including through court decisions. In 2025, it is planned to receive income from the sale of federal property in the amount of at least 100 billion rubles.
Planning the proceeds from privatization to the budget is a complicated process, Vladimir Klimanov, director of the IPEI Regional Policy Center at the Presidential Academy, told Izvestia.
— Many actions related to privatization arose in the wake of the departure of foreign companies from our country. And therefore, even in the first half of 2024, the amount of funds was relatively small. The largest deal of that period was the privatization of Rosspirtprom. Transactions in the second half of the year have already exceeded one hundred billion rubles," he explained.
According to him, there are similar expectations for the current year, but this does not mean that the data will be exactly the same, they may be under-fulfilled.
"I don't see any significant risks for the budget in this, unlike the drop in tax revenues," the expert said. — According to the principle of total cost coverage, which is applied in our budget system, these funds are actually integrated into the overall budget and can be used for various expenses fixed in it. In this sense, there is no direct connection between a specific source of funds and certain areas of their expenditure.
However, some experts do not expect an increase in dividend payments from state-owned companies in 2025, and consequently, an increase in budget revenues this year.
"The high key interest rate, macroeconomic instability, the risks of a weakening ruble, as well as the need for investments will continue to put pressure on the financial profiles of large state—owned companies, which, accordingly, will affect the companies' ability to pay dividends," Elina Kuliyeva, Senior Director for Corporate Ratings at Expert RA, told Izvestia. — Many companies are forced to increase investments, which will restrain dividend payments.
Changing formats
One of the most important items of income to the state budget is the privatization of state property, Natalia Kazantseva, Associate Professor of the Department of Economic Policy and Economic Measurements at the State University of Management, told Izvestia. The task of replenishing it was regularly performed. But in the previous year, it was supplemented by significant measures for effective management of state property, which allowed the Federal Property Management Agency to report a significant excess of the plan for generating income from the use of state property and budget revenues.
— This was facilitated by the establishment of the department's work to ensure the involvement in economic turnover of property that was inefficiently used by government agencies, institutions and enterprises. This was achieved, among other things, by building effective corporate governance in these organizations, forming an effective system of control over their investment and procurement policies. The transfer of state property for lease has been simplified. All transactions on the sale of state and municipal property were transferred to GIS "Auctions", — Natalia Kazantseva explained.
A large share of the income received was made up of income from dividends from state-owned companies, which shows more efficient work with government securities, including shares owned by individuals from unfriendly countries and transferred to the management of Russian companies, the expert believes. The sale of seized and other seized property, including physical evidence and goods detained by customs authorities, also added a significant share to the State's income.
"The Ministry of Finance and the Federal Property Management Agency should continue working in the same direction this year, which will significantly increase revenues to the budget, whose expenses are constantly growing, including for the implementation of state programs, national projects, ensuring the social orientation of the budget and ensuring the national security of the country," Natalia Kazantseva is convinced.
Basic expenses
In 2024, the Federal Property Management Agency transferred over 473 billion rubles to the federal budget with a plan of 405 billion rubles. Of this amount, 307 billion rubles were made up of dividends from state-owned companies, mainly from the oil and gas sector. Revenues from the privatization of treasury property and corporate assets reached 132 billion rubles, which significantly exceeded the planned 6 billion rubles, Valery Tumin, a member of the expert council on the development of the digital economy under the State Duma Committee on Economic Policy, said in an interview with Izvestia.
— The funds received by the federal budget from the activities of the Federal Property Management Agency are used to finance government programs and obligations. The main priorities are social support for citizens, strengthening defense capabilities, infrastructure development and support for key sectors of the economy," he stressed.
These areas are defined in the main directions of budget, tax, customs and tariff policy for 2025-2027. According to the expert, revenues from privatization and state property management play an important role in ensuring the financial stability of the country and the implementation of strategic objectives.
However, with rare exceptions, the principle of cash unity is applied in Russia, Dmitry Kulikov, senior director of the ACRA group of sovereign and regional ratings, noted in an interview with Izvestia. Therefore, it is impossible to trace the fate of these particular incomes, they pay for expenses in general.
The Ministry of Energy forwarded Izvestia's request to the Ministry of Finance. Responses from the Federal Property Management Agency, "Dom.The Russian Federation" and the Ministry of Construction had not been received at the time of publication.
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