ANNOUNCEMENT 02 Jul 2015In July 2015, the government of the Russian Federation announced a change in production support.
NUMBER OF INTERVENTIONS
On 2 July 2015 entered into force Decree No. 669 of the Government of the Russian Federation. It amends Decree No. 244 of 18 March 2015 (see the related GTA measure).Concretely, Decree No. 669 provides additional 5 billion Russian Roubles (approximately 87.38 million USD) in aid to Russian organisations that was not foreseen in Decree No. 244. The aid shall compensate part of the cost associated with the production of vehicles.
The amendment is in accordance with the "anti-crisis'plan of the Government and forms part of the state program "Developmentof the industry and increase of its competitiveness". In Decree No. 669 is written that the taken 'decision will provide for an additional capacity utilisation of the Russian auto enterprises'.