ANNOUNCEMENT 04 Aug 2015In August 2015, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 4 August 2015 the Russian Government approved Decree No. 793. It introduced the federal target program "Socio-economic development of the Kuril (Kurile) Islands (Sakhalin region) for the period 2016-2025".
The planned total budget funding for the Programme is 59.59 billion Russian Roubles (approximately 953.93 million USD as per the official USD/RUB exchange rate for 4 August 2015). The programme is to be implemented on two stages: (I) - 2016--2020; (II) - 2021--2025. Therefore, as an inception date for potential budgetary allocations has been chosen 1 January 2016.
The main state support activities in the period 2016--2025 which may affect the international flows in goods, works and services are:
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.