Russian government to provide RUB50 billion of state aid to local automotive industry
Program aimed at creating conditions for the revival of Russian car makers' production growth.
The Russian government is planning to provide RUB50 billion (USD630.5 million) in state support to the automotive sector in the country, reports Prime News. Prime Minister Dmitry Medvedev announced that he had signed a ruling during a visit to AvtoVAZ on Friday (22 January). He told journalists, "The industry will receive the largest volume of state support among all non-military branches this year. This program is aimed at creating conditions for the revival of Russian car makers' production growth. The total volume of funding is expected to stand at about RUB50 billion.
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