question archive Do you think that deprivatization is in the long-term best interests of Russia?
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Do you think that deprivatization is in the long-term best interests of Russia?
No, I do not think that deprivatization is in the longer-term, of best interest in Russia. In the long-run, the continued involvement of the government will create inefficiencies in the economic market. The government's participation is leading its economy to inefficiencies, and it's the primary source of several political and corporate scandals in Russia. Privatization would have been essential to eradicate the deficits in the budget and improve the country's economic efficiency.
Deprivatization gives authority to politicians and the well-endorsed business people, who may have the malicious intentions of profit-making and not care about the country's economic efficiency. It may also drive foreign investors away, as most of these entities will have the government holding the most significant shares. Thus, if not carefully regulated, deprivatization may lead to inefficiencies in the economy, including other political scandals causing general harm to the Russian economy.