ANNOUNCEMENT 23 Apr 2016In April 2016, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 23 April 2016 the Russian Government (according to Resolution 766-p) approved an allocation of state subsidies for agricultural land improvement (land amelioration/reclamation) from the federal budget to 52 administrative regions.
The budget allocation is at the amount of 2.142 billion RUB (ca. 32.348 million USD). The subsidies are allocated as part of the federal target program "Development of agricultural land reclamation in Russia in the period 2014--2020 years". On its turn, it forms part of the state programme for agricultural development and regulation of the markets of agricultural products, raw materials and food in 2013-2020, approved by Decree No. 315 of the Russian Government of 15 April 2014.
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.