Deputy Minister of industry and trade of the Russian Federation Alexander Morozov said that three programs of stimulation of demand, which needs the funds already loaned the Federal budget an additional 50 billion rubles.
MOSCOW, 13 Oct. The program of state support of the Russian car industry will require 27,2 billion rubles for three years, said Deputy Minister of industry and trade of the Russian Federation Alexander Morozov.
“Early in the year we reported to the government two scenarios: with measures of state support and without them. While the Ministry adheres to the forecast that we will maintain production at the level of minus 24% compared to last year,” notes Morozov in an article published Tuesday in the newspaper “Vedomosti”.
“In sum, all three programs to stimulate demand as at 8 September have already given the Federal budget an additional 50 billion rubles in taxes (VAT or excise duty, when we are talking about the car). Now spent on these programs is 18 billion rubles. In General, these three programs we have scheduled commitments of the Federal budget for all periods to 27.2 billion rubles and revenues to the Federal budget this year taxes and fees — to 56.7 billion rubles,” — said Morozov.
He said that in particular, the program of preferential car loan has a three-year period from obligations of the Federal budget. Morozov also drew attention to the fact that the portion of the cost of interest rates is compensated by banks only after actual payment of the next car buyer.
“Overall budget efficiency of the three programmes of demand stimulation is 184%, this is a unique indicator. I am only talking about the decisions (i.e. without additional funding): 15 billion rubles on the renewal of preferential car loans to 1.5 billion rubles this year and 2.5 billion roubles for preferential leasing. So, to 27.2 billion rubles (costs) over three years compared to 56.7 billion rubles in the budget this year”, — said Morozov.