The Ministry of Industry and Commerce has requested 60 billion rubles from the budget for the support of automotive industry in 2017

The Ministry of Industry and Commerce has requested 60 billion rubles from the budget for the support of automotive industry in 2017

Finmarket.ru – The Russian Ministry of Industry and Commerce expects to receive approximately 60 billion rubles from the federal budget for the automotive industry support programme in 2017. The relevant proposal is due for approval by the government, as told by the Russian Deputy Minister of Industry and Commerce Alexander Morozov to the journalists.

“We hope to implement new programmes in 2017 to stimulate the demand. At least 60 billion rubles will be allocated from the budget for the support of automotive industry in 2017. The procedure, concerning the formulation of the next year’s budget, is in the process of implementation. We have made the necessary applications and hope to receive support at the end of the formulation process of the federal budget” – said A. Morozov.

Morozov has noted that the RF Ministry of Industry and Commerce will develop targeted programmes to stimulate the car industry.

According to the deputy minister, a production growth of between 3% – 20% is expected in the commercial vehicle segments in 2016. The production of passenger cars will slightly shrink, on the other hand.

The Ministry of Industry and Commerce anticipates an increase in overall vehicle production in 2017, by 3% to 7%.

Morozov is more optimistic in export figures. “According to our plans, the growth percentage of our car and component production will reach double figures in 2017, hopefully not less than 25-30%” – he said.