ANNOUNCEMENT 10 May 2017
On 10 May 2017, the Russian Government announced a new subsidy targeting producers of equipment for the food and food processing industries.
NUMBER OF INTERVENTIONS
Government of the Russian Federation. 2017. Decree dated May 10, 2017 N 547. Об утверждении Правил предоставления субсидий из федерального бюджета производителям машин и оборудования для пищевой и перерабатывающей промышленности (On approval of the Rules for granting subsidies from the federal budget to manufacturers of machines and equipment for the food and processing industry), http://static.government.ru/media/files/Bw5EXkA2JS0ejEJpERexa6kK075CYGe9.pdf
On 10 May 2017, the Russian Government announced a new subsidy for the producers of equipment for food and food processing industries. The subsidy targets the manufacturers' sales and enables sales discounts of up to 15% on the equipment to be reimbursed by the Government.
Only equipment produced by Russian manufacturers after 1 January 2016 and sold after 1 January 2017 is eligible for the subsidy. Subsidy paid out to a single manufacturer is limited to 150 million rubles (USD 2.6 million).
Subsidy recipients are obliged to increase production compared to the preceding year. Although the rate of increase is to be set with each recipient individually, the overall goal of the policy is to increase production by 25% on a year-on-year basis.