ANNOUNCEMENT 22 Dec 2012In December 2012, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
22 2012 . 1371
The Russian Government introduced (according to Decree 1371 of 22 December 2012) a subsidy scheme to support Russian provines to partially compensate expenses of farmers' crop and livestock insurance for the period 2013-2015. The 2013 budget for these subsidies amounts to RUB6.00 billion (USD 197.56 million). The government envisages RUB 6.26 billion (USD 206.12 million) for 2014 and RUB 6.76 billion (USD 222.59 million) for 2015, respectively.
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 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.