ANNOUNCEMENT 19 Dec 2015In December 2015, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 19 December 2015 the Russian Government approved Decree No. 1383. It allocates 1 billion Russian Roubles (approximately 14 million USD) from the Federal budget to Russian automobile and automobile components manufacturers, including their affiliated organisations.
Their purpose is to partially compensate interest rate payments on credits received for investment and innovative projects and (or) payment of the coupon income on bonds issued for the implementation of investments.
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.