Business Services Industry

RUSSIA: GAZPROM APPROVES BUDGET...(Gazprom Russian Joint Stock Co. sets 2003 budget)(Brief Article)

IPR Strategic Business Information Database, March, 2003

Gazprom's board of directors approved the company's 2003 budget and investment program on 25 February, "Kommersant" reported the next day. Though the final budget includes a number of cost-cutting measures, the cash-strapped natural-gas monopolist will still have to borrow to cover a 137.5 billion-ruble ($4.35 billion) deficit. Forecasting 2003 revenues of 1.04 trillion rubles, the budget provides for capital expenditures of 180 billion rubles and debt repayments of 193.2 billion rubles. The gas giant also plans to rid itself of 6 billion rubles' worth of noncore assets, although the board chose to leave untouched a controversial 2 billion-3 billion-ruble advertising budget and 38 billion rubles in operating expenses, "Vremya MN" reported on 26 February. The company...

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works. HighBeam Research

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement
Click Here

Most Recent Business Articles

Most Recent Business Publications

Most Popular Business Articles

Most Popular Business Publications