IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 Apr 2015 | Removal date: open ended
Still in force

Interest payment subsidy

 
As part of the anti-crisis measures of the Russian Government, Decree No. 364 of 16 April 2015 approved the allocation of federal subsidies, related to credits for purchase of cars, issued in favour of physical persons.
 
The federal subsidy is at the amount of 1.5 billion Russian Roubles (ca. 29.70 million USD as of the date of the issuance of the legal act). The state subsidises 2/3 of the key reference rate (14% at the moment of approval of this state intervention), provided by the Central Bank of Russia. The maturity of the credit must not surpass 36 months. The purchased cars must be produced in 2015.
 
On 23 April 2016, with Decree No. 344, the Russian Government prolonged the validity of the subsidy scheme, introduced by Decree No. 364, by approving the allocation of 11.3 billion RUB (ca. 170.64 million USD as of the date of the issuance of the legal act). In addition, the value of the cars that are eligible for state support has been increased from 1 million RUB to 1.150 million RUB.
 
These state measures are approved as part of the framework of the sub-program "Automotive industry" of the state program of the Russian Federation "Development of the industry and increasing of its competitiveness".
 
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.

 

 

AFFECTED COUNTRIES

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TABLE
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AFFECTED SECTORS AND PRODUCTS

491 Motor vehicles, trailers & semi-trailers; parts
8703 Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars.
870310 Vehicles specially designed for travelling on snow; golf cars and similar vehicles
870321 Of a cylinder capacity not exceeding 1,000 cc
870322 Of a cylinder capacity exceeding 1,000 cc but not exceeding 1,500 cc
870323 Of a cylinder capacity exceeding 1,500 cc but not exceeding 3,000 cc
870324 Of a cylinder capacity exceeding 3,000 cc
870331 Of a cylinder capacity not exceeding 1,500 cc
870332 Of a cylinder capacity exceeding 1,500 cc but not exceeding 2,500 cc
870333 Of a cylinder capacity exceeding 2,500 cc
870390 Other

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