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Mr. Kudrin did allow that his former boss's speech struck a positive note in highlighting new business-friendly laws and promising a new round of privatization of state enterprises to shore up the budget.
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Mr. Putin also reiterated their suggestions that a new round of privatizations could be in the cards for Russia.
Another 24.1 percent of Rosneft could be made available to investors in the new round of privatizations, according to Russian media reports.
The government in Madrid announced a new round of privatizations and other measures last week to reduce its budget deficit, but as the bond sale Thursday showed, Madrid is still struggling to persuade investors that it will meet its goals.
"To the extent that the situation stabilizes, that the effects of the crisis are overcome, we plan to consistently and purposefully reduce state intervention in the economy," he said, adding that a new round of privatizations could follow.
To help, a wealthy maverick jetted in from Russia intent on cutting Georgia's economic shackles with a bold round of privatizations.
Last month, Mr. Berlusconi pledged to the European Union that he would approve a new round of restructuring, including the privatization of some state assets and the loosening of labor laws, but his promises did little to quell market anxieties.
Public-private partnerships are an outgrowth of privatization.
There are several types of privatization.
Instead of "privatization," he said "personal accounts".
The transition costs of privatization are formidable.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com