ANNOUNCEMENT 27 Aug 2016In August 2016, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 27 August 2016 the Russian Government approved Resolution No. 1806-p with which it extends with three new projects the list with state supported projects in the Far East of the country.
The projects are to be financed by the federal budget with 929 million RUB (ca. 14.104 million USD) in 2016 while their overall budget is 2.007 billion RUB (ca. 30.47 million USD). The projects are to be made in the following industries of the Russian economy: construction of a gold-mining enterprise, a wood-processing enterprise and a logistics complex for storage of vegetative raw materials.
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.