The state support on Russian car industry will go down by a half

The state support on Russian car industry will go down by a half

Autostat – The state support on Russian car industry will go down by a half. State support on automotive industry will amount to 34,4 billion rubles in 2018. The figure has been announced by the director of Russian Federation Ministry of Industry and Commerce Department of Automotive Industry and Railway Engineering: Denis Pak.

The support has gone down by a half, in comparison with the 2017 figure of 68,7 billion rubles. Most money will be spent on the implementation of First automobile and Family Car programmes this year (7,5 billion rubles). 6,1 billion rubles will be allocated for Preferential Leasing, Own Business and Russian Tractor programmes. In addition, 4,4 billion rubles will be put aside for the finance of investments. The remaining measures of state support will cost the budget between 0,5 and 2,5 billion rubles.

It should be noted that the Russian car industry has made a profit for the first time in many years, in the amount of 50,5 billion rubles in 2017. The last profit was made in 2013 (31,9 billion rubles) and 2014-2016 period ended in loss, the worst performance being recorded in 2015 (-77,5 billion rubles).