ANNOUNCEMENT 23 Jan 2016In January 2016, the government of the Russian Federation announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
On 23 January 2016 the Russian Government approved the state programme for support of the local automobile industry for 2016 (Resolution No. 71).
The total amount of the federal subsidies is at the amount of 88.59 billion RUB (ca. 1.26 billion USD). Among the main measures the state programme includes 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.