ANNOUNCEMENT 29 Jun 2017

In June 2017, the Russian Government prolonged the state support for the purchase of local cars.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

THE RUSSIAN GOVERNMENT (2015). ПОСТАНОВЛЕНИЕ ПРАВИТЕЛЬСТВА РФ ОТ 7 ИЮНЯ 2017 Г. N 808 "ОБ ИЗМЕНЕНИЯХ В ПОРЯДКЕ ПРЕДОСТАВЛЕНИЯ СУБСИДИЙ НА РЕАЛИЗАЦИЮ ПРОГРАММ ЛЬГОТНОГО АВТОКРЕДИТОВАНИЯ". (Resolution of the Government of the Russian Federation of April 16, 2015 No. 364 "On changes in the procedure for granting subsidies for the implementation of preferential car loan programs"). Available at http://government.ru/docs/28390/

THE RUSSIAN GOVERNMENT (2017). РАСПОРЯЖЕНИЕ ПРАВИТЕЛЬСТВА РФ ОТ 29 ИЮНЯ 2017 Г N 1369-Р "О ПРЕДОСТАВЛЕНИИ СУБСИДИЙ НА РЕАЛИЗАЦИЮ ПРОГРАММ ЛЬГОТНОГО АВТОКРЕДИТОВАНИЯ И ЛЬГОТНОГО ЛИЗИНГА КОЛЁСНЫХ ТРАНСПОРТНЫХ СРЕДСТВ". (Order of the Government of the Russian Federation of June 29, 2017 No. 1369-r "On granting subsidies for the implementation of programs of preferential car loans and preferential leasing of wheeled vehicles"). Available at http://government.ru/docs/28269/

Inception date: 01 Jul 2017 | Removal date: open ended
Still in force

Interest payment subsidy

On 7 June 2017, with Decree No. 808, the Russian Government prolonged the validity of the subsidy scheme for year 2017, introduced by Decree No. 364. 

The allocation of the subsidies in the amount of 3.75 billion RUB (ca. 63.3 million USD as of the date of the issuance of the legal act) for year 2017 was announced subsequently by the Government Order No. 1369-r dated 29th of June, 2017. The new budget represents a reduction by close to RUB 8 billion from the RUB 11.3 billion allocated to this scheme in 2016. Hence this intervention is marked as liberalising ("green").

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 increase 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