privatization

As a result of privatization in Russia, tens of thousands of state-owned enterprises - from small retail shops to major industrial enterprises - have been transformed into privately owned companies. Millions of Russian citizens became owners. The privatization is guided by the special government program which operates on different administrative levels: federal, regional and municipal. The authorities on any given level are authorized to privatize only those assets transferred to their ownership. Large-scale privatization By …

… presumably is to facilitate the reduction of inter-enterprise debts. Adoption of international bookkeeping principles and audit standards can help solve many problems related to enterprise insolvency, restructuring, improvement and support. Next year's privatization process will be determined, to a considerable degree, by the state of the market. In 1996 it should acquire all the basic characteristics of the capital market, and its main task will be an effective inter-industry and inter-regional re-distribution of investment resources.