ANNOUNCEMENT 12 Mar 2013In March 2013, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On March 12, 2013, the Government of the Russian Federation approved with Resolution Nr 338 the disbursement of subsidies from the 2013 federal budget to agricultural producers and animal breeders. The subsidies amount to RUB 6.77billion (USD 221 million). The rules for this state subsidy were approved by Resolution Nr 1460 of December 28, 2012 (GTA related measure Nr. 4298).
This state measure is in line with the recent statement of the President of the Russian Federation, Mr Vladimir Putin, that the interests of those sectors facing the most intensive competition from abroad (after the WTO accession) will be considered.
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.