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On March 18, 2013, the Russian Government (according to Decree 224) approved the rules for the issuance of state guarantees for the film production company Lenfilm in 2013. According to an article in Rossiyskaya Gazeta, an official newspaper of the Russian Government, Lenfilm is a 100 per cent state-owned company. The state guarantee covers a Lenfilm loan taken from a Russian bank in order to modernise its premises.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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