ANNOUNCEMENT 28 Dec 2012In December 2012, the government of the Russian Federation announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
On December 28, 2012, the Government of the Russian Federation (according to Resolution 1460) approved the rules for the partial compensation of interest payments on loans received by agricultural producers and animal breeders from Russian credit organisations or rural agricultural credit cooperatives. This state measure is in line with the recent statement of the President of the Russian Federation, Mr Vladimir Putin, that the interests of the economic sectors, agriculture included, who meet the most intensive competition from abroad after the WTO accession, will be considered. The resolution entered into force on January 1, 2013. According to Resolution 338 of March 12, 2013, RUB 6.77billion (USD 221 million) are disbursed so far.
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.