ANNOUNCEMENT 27 Dec 2014In December 2014, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
According to Decree Nr. 1565, Russian exporters of industrial products for military use will benefit from state subsidies from the budget of 2015-2016. The purpose of the subsidies is to reimburse the cost of the accrued interest on loans obtained from Russian credit institutions and the State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)".
The subsidies are at the amount of 2.9 billion Russian Roubles (approximately 51.56 million USD) in 2015, and at the amount of 2.94 billion Russian Roubles (approximately 52.27 million USD) in 2016.
The decree was signed on 27 December 2014.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.