Russian government has allocated 25 billion rubles for the support of automotive sector

Russian government has allocated 25 billion rubles for the support of automotive sector

Vedomosti – The government of Russian Federation has allocated 25 billion rubles, in order to promote the automotive sector in the country. The aforementioned package covers areas such as; the subsidy of the interests on car and commercial vehicle credits, reducing leasing costs and commercial vehicle purchases by government organs. The minister of industry and commerce Denis Manturov has highlighted the support given by the prime minister Dmitri Medvedev, on all proposals presented by the ministry, at the end of the meeting.

Manturov has added the following: “The market will shrink by 50%, unless we take precautions. We hope the decline in the market to remain at 24%, thanks to the measures we have taken today, in addition to the ones, which came into force at the beginning of the year.”

The allocation of 5 billion rubles for the extension of the automobile utilisation programme to the second quarter of the year is also amongst the measures. 10 billion rubles had been allocated for the programme, during the first half of the year.

The amount allocated to federal organs and the municipalities for vehicle purchases is 11.6 billion rubles, on the other hand.