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Thursday, November 26, 2020

The industry will receive 5 billion roubles from the Russian government


Photo: Sergey Lentyugov/NEWS.EN

Russian industry will receive the support of 5 billion roubles. The corresponding order was signed by the Prime Minister of the Russian Federation Mikhail Mishustin.


The amount of compensation will amount to 80% of the cost depending on specific industrial production. This feature, among others, will be available to organizations in industries of automotive, agricultural, transport and power engineering. The grant will help to ensure the supply of products worth at least 45 billion rubles, — they say in a message posted on the government website.

In addition, the government has decided to allocate 600 million rubles to companies that intend to purchase new drilling equipment and dispose of the old one. With the result that the Cabinet expects an increase in demand for such installations by 2020, 3 billion rubles.

Earlier the President of Russia Vladimir Putin, speaking on a online-at the meeting of the international discussion club “Valdai”, reported that reductions in defence spending in the country is not planned. Policy was asked to comment on the plans of the Ministry of Finance on optimization of the defense budget.






The head of state stressed that discussions about cost savings by cuts in government. Putin assured, that to him the discussions “have not even reached”, reports the TV channel “Star”.

The draft budget for 2023 involves reducing defence spending to the level of 2.5% of GDP. Wrote NEWS.ru the head of the audit chamber of the Russian Federation Alexey Kudrin said that the best would be a level of 2.8–2.9% of GDP. With this share of defense spending burden on the budget will not deter the development of other areas. The official recalled that in 2010, defense spending rose to 3.4%, which has become a serious test for the economy.

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