ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
With Decree No 425-8 of 16 May 2016 the Russian Government approved the state programme for the development of the military-industrial complex (2016-2020).
The quint-annual budget of the program is 34.8 billoin rubles (USD 537 million), roughly equally distributed for five years.
The purpose of this state programme is to increase the competitiveness of the military-defence industry and promote its exports.
The foreseen state interventions that are likely to affect foreign commercial interests are:
Only the non-classified part of the program is published, with the full program possibly more extensive than reported. The federal agency in charge of the program is the Ministry of Industry and Trade.
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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