ANNOUNCEMENT 14 Jul 2012In July 2012, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Decree 717 of July 14, 2012, http://government.ru/gov/results/19885/
On July 14, 2012, the Russian Government (according to Decree 717) approved the state programme for agricultural development and regulation of the markets for agricultural products, raw materials and food for the period 2013-2020.
The purpose of the state programme is 'to ensure foodstuffs independence of Russia and to increase the competitiveness of the domestic agricultural products on the internal and international markets in connection with the accession to the WTO'. The program will allocate a total of 2.28 trillion Russian Roubles for the development of agriculture and food markets (1.5 trillion Russian Roubles from the federal budget, and 777 billion Russian Roubles from provincial budgets).
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.