ANNOUNCED AS TEMPORARYNo
On February 28, 2012, the Russian Government (Decree 166) approved the rules for the allocation of federal subsidies to the subjects of the Russian Federation (provinces and regions) for the co-financing of grants they provide for the support of farm start-ups. A list of selected subjects of the Russian Federation (Decree 224/18.03.2013, GTA measure 4283) received RUB 1,728 million (USD 56 million) from the 2013 state budget. This state measure is in line with the recent statement of the President of the Russian Federation, Mr Vladimir Putin, that the interests of the economic sectors, agriculture included, who meet the most intensive competition from abroad after the WTO accession, will be supported.
Among the key requirements, the co-financed grants must comply with, are:
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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