ANNOUNCED AS TEMPORARYNo
On September 4, 2015, the Government of the Russian Federation approved Decree No. 934. It has two main purposes:
The maturities of the state guarantees were not disclosed. Since the credits they cover under Decrees No. 1060-p/16.06.2014, No. 1825-p/15.09.2014 and No. 2392-p/27.11.2014 expire on 31 December 2018, it may be expected that the state guarantees will remain valid as a minimum until this date because they secure their repayment.
This state measure has the goal of expanding the capacity of the beneficiaries to attract non-budgetary sources of funding and carry out state tasks related to the execution of the state defence orders where the federal funding is received in the form of deferred payments.
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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