ANNOUNCEMENT 23 Jun 2017
The Ministry of Industry and Trade of the Russian Federation announced state subsidies to 8 Russian manufacturers of wheeled vehicles under the framework of partial cost compensation for preserving jobs.
NUMBER OF INTERVENTIONS
Ministry of Industry and Trade (2017). ПРИКАЗ МИНИСТЕРСТВА ПРОМЫШЛЕННОСТИ И ТОРГОВЛИ РОССИЙСКОЙ ФЕДЕРАЦИИ ОТ 23 ИЮНЯ 2017 Г. N 1973 "О ПРЕДОСТАВЛЕНИИ СУБСИДИЙ ИЗ ФЕДЕРАЛЬНОГО БЮДЖЕТА РОССИЙСКИМ ПРОИЗВОДИТЕЛЯМ КОЛЕСНЫХ ТРАНСПОРТНЫХ СРЕДСТВ НА КОМПЕНСАЦИЮ ЧАСТИ ЗАТРАТ НА СОДЕРЖАНИЕ РАБОЧИХ МЕСТ". (Decree of the Ministry of Industry and Trade of the Russian Federation of June 23, 2017 No. 1973 "On granting subsidies from the federal budget to Russian producers of wheeled vehicles to partly compensate the costs of preserving jobs". Available at http://minpromtorg.gov.ru/docs/#!22123
According to the Ministerial Decree No. 1973 dated 23rd of June, 2017, state subsidies were granted to 8 Russian manufacturers of wheeled vehicles in the total amount of 2.37 billion RUB (39.8 million USD).
The subsidies were granted to partly compensate job preservation expenses of Russian manufacturers of wheeled vehicles. The subsidies were granted under the frameworks depicted by the Resolution of the Government of the Russian Federation of January 15, 2015 No. 32 and by the Decree of the Ministry of Industry and Trade of February 14, 2014 No. 180. The general framework is based on the objectives of the subprogramme "Automotive Industry" of the State Programme of the Russian Federation "Development of Industry and Increasing Its Competitiveness".
Government subsidies to Russian manufacturers of wheeled vehicles preserve jobs and employment of workers in the automotive industry and related industries, therefore stabilising the production and sales of Russian-made vehicles.