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Russia to Support Priority-Industry Exports at 1.6 B USD

Russia is to support exports of its priority industries at 100 B RUB (1.6 B USD) in three years, the Russia Today quotes Russian Minister of Industry and Trade Denis Manturov. He made this statement upon the meeting of the Council for Strategic Development and Priority Projects.

Russia has four priority export areas - agricultural machine-building, transport machine-building, automobile industry and aviation. The Government is to support these through export subsidies, pre-export financing and export loan insurance.

“As for the budget for the next three years, we have submitted a request and working with the Ministry of Finance and it all depends on the final numbers in the budget”, Mr. Manturov said. “As for the amount, it is around 100 B in the next three years - I mean, for export support”.

The goal of the Ministry is to reach 17% annual export improvement on priority industries.

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