ANNOUNCEMENT 23 Apr 2016

In April 2016, the Russian Government prolonged the state support for the purchase of local cars. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Russian Government (2015). ПОСТАНОВЛЕНИЕ ПРАВИТЕЛЬСТВА РФ ОТ 23 АПРЕЛЯ 2016 Г. N 344 "О НАПРАВЛЕНИИ БЮДЖЕТНЫХ АССИГНОВАНИЙ НА ПРЕДОСТАВЛЕНИЕ В 2016 ГОДУ ИЗ ФЕДЕРАЛЬНОГО БЮДЖЕТА СУБСИДИЙ НА ВОЗМЕЩЕНИЕ ПОТЕРЬ В ДОХОДАХ РОССИЙСКИХ ЛИЗИНГОВЫХ ОРГАНИЗАЦИЙ ПРИ ПРЕДОСТАВЛЕНИИ ЛИЗИНГОПОЛУЧАТЕЛЮ СКИДКИ ПО УПЛАТЕ АВАНСОВОГО ПЛАТЕЖА ПО ДОГОВОРАМ ЛИЗИНГА КОЛЕСНЫХ ТРАНСПОРТНЫХ СРЕДСТВ, А ТАКЖЕ СУБСИДИЙ РОССИЙСКИМ КРЕДИТНЫМ ОРГАНИЗАЦИЯМ НА ВОЗМЕЩЕНИЕ ВЫПАДАЮЩИХ ДОХОДОВ ПО КРЕДИТАМ, ВЫДАННЫМ РОССИЙСКИМИ КРЕДИТНЫМИ ОРГАНИЗАЦИЯМИ, И ВНЕСЕНИИ ИЗМЕНЕНИЙ В НЕКОТОРЫЕ АКТЫ ПРАВИТЕЛЬСТВА РОССИЙСКОЙ ФЕДЕРАЦИИ." (Resolution of the Government of the Russian Federation of April 23, 2016 No. 344 "On the allocation of federal budget allocations for the provision in 2016 of a subsidy for compensation for losses in the income of Russian leasing organizations for providing a discount on the payment under leasing contracts for wheeled vehicles, as well as subsidies to Russian credit organizations for compensation of lost income on loans, and changes in some acts of the Government of the Russian Federation."). Available at http://pravo.gov.ru/proxy/ips/?docbody=&nd=102396290&rdk=0

Inception date: 23 Apr 2016 | Removal date: 07 Jun 2017

Interest payment subsidy

On 23 April 2016, with Decree No. 344, the Russian Government prolonged the validity of the subsidy scheme, introduced by Decree No. 364, by approving the allocation of 11.3 billion RUB (ca. 170.64 million USD as of the date of the issuance of the legal act). The new budget represents an increase by close to RUB 10 billion from the RUB 1.5 billion allocated to this scheme in 2015. In addition, the value of the cars that are eligible for state support has been increased from 1 million RUB to 1.150 million RUB.

The state measure is approved as part of the framework of the sub-program "Automotive industry" of the state program of the Russian Federation "Development of the industry and increasing of its competitiveness".

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.

AFFECTED SECTORS