Authorities sent several billion roubles to support the automotive industry

Authorities sent several billion roubles to support the automotive industry


Additional budget provision of $ 4,824 billion roubles will be allocated for compensation to Russian organisations of a part of expenses in connection with the production of wheeled vehicles.

MOSCOW, 16 Nov. Prime Minister of Russia Dmitry Medvedev signed a decree, which provides for the direction of several billion rubles for compensation of production costs of the automotive industry and the program of preferential leasing, also canceled the limit on the amount of subsidies per one lessee.

Adopted in accordance with the “anti-crisis” plan of the government document published on the government website.

The Ministry of industry and trade had sent money for granting in 2015 subsidies for compensation of part costs for interest payment on loans raised for replenishment of working capital and financing ongoing operations. Subsidies are granted to reimburse expenses on loans received in credit organizations of Russia, or Vnesheconombank in the international financial organizations, where Russia participates.

“The resolution of these funds directed to the provision of state support to the automotive industry. Additional budget provision of $ 4,824 billion roubles will be allocated for compensation to Russian organisations of a part of expenses in connection with the production of wheeled vehicles”, — stated in the explanatory note to the document.

In addition, 1 billion rubles allocated for the implementation of the program of preferential leasing of vehicles and removed restrictions on the limit of the granted amount of subsidies per one lessee.

This is intended to provide additional capacity for the industry depends on and will retain jobs and increase sales of cars under the program of preferential leasing by 6.4 thousand units.