No support for automotive in Russian government’s draft budget for 2016

No support for automotive in Russian government’s draft budget for 2016

RBK – The Russian government has scheduled the approval of the 2016 budget for 8 October. According to RBK’s own sources, there’s no mention of automotive support in the draft budget. The sources stated that the ministry of finance is against taking any specific measures in order to save the automotive sector, under the dire conditions the budget is currently in.

Several programmes, such as: vehicle park utilisation, induced automobile credits and leasing are being implemented in order to support the Russian automotive, at the moment. Despite the proposal made by the ministry of industry and commerce to extend these programmes to 2016, no funds have been found for the purpose.

On the other hand, the car manufacturers interviewed by RBK remind that articles on automotive support didn’t exist in 2014 and 2015 budgets either and the funds were created through government orders in due course.

The ministers’ expectation of recovery in the automotive market for 2016 is amongst the factors causing reluctance on the allocation of funds, according to news.