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. Last Updated: 07/27/2016

Funds Too Low to Fix Y2K Bug

Only one-third of Russia's vital computer systems are ready for the so-called millennium bug, and the government probably won't have the money to fix the rest in time, officials said this week.

Finance Ministry officials told a Cabinet meeting Monday that Russia needs at least $187 million to prepare its computers for the year 2000, Itar-Tass reported.

That money will be hard to find, and Moscow will probably have to give priority to defense and security sectors while withholding money from other agencies, Finance Minister Mikhail Kasyanov said.

The Defense Ministry needs $13 million to fix the problem, and the Interior Ministry needs $6 million, Kasyanov said. He gave no figures for other security institutions.

Government agencies have 28,000 vital computer systems, one-third of which are ready for the year 2000 changeover, said Alexander Ivanov, head of the State Communications Committee.

Many government agencies don't fully appreciate the risks, he added.

"The situation with resolving the Y2K bug in Russia provokes concern," Ivanov said.

Since the glitch isn't likely to be fixed in time, Russia will reduce the number of airplane flights on Dec. 31, halt some hazardous industrial processes and switch others to manual control, "just in case" anything goes wrong, Ivanov said.

The Central Bank and most fuel and energy companies are prepared for the bug, he said.