ANNOUNCEMENT 18 Mar 2016In March 2016, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 18 March 2016 the Russian Government (with Resolution No. 455-p) approved the upper bounds of state subsidies that nine investment project in the Far East and Baikal region can receive, as well as their respective upper bounds for 2016.
These subsidies form part of the state programme 'Socio-economic development of the Far East and Baikal region'. The investment projects involve construction works related to the coal mining, gold mining, swine breeding and beer production. The maximum amount these projects can ever receive is 23.43 billion RUB (346 million USD), including 7.19 billion RUB (106 million USD) in 2016.
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.