Russian government to spend $500mn to support Russian exporters in 2006
On Monday, Aug 8, Russia's Deputy Prime Minister Alexander Zhukov said that next year the Russian government will delegate $500 million to support Russian exporters of industrial production.
Aug 09, 2005
On Monday, Aug 8, Russia's Deputy Prime Minister Alexander Zhukov said that next year the Russian government will delegate $500 million to support Russian exporters of industrial production. Zhukov spoke at the meeting of the Cabinet members with President Vladimir Putin.
Speaking of giving Russian exporters guarantees Zhukov, quoted by RIA Novosti, said that "it is important to promote our production abroad, including to the markets of developing countries". The Deputy Prime Minister said that the budget for 2006 presupposes spending of $500 million to support Russian producers who work in the space industry, in nuclear power plant construction, in energy and hi-tech spheres. Zhukov also noted that the volume of guarantees will depend on the level of risks in each specific country.
Meanwhile this year the Russian government allocated as much as $850 million for support of Russian exporters. Out of this sum $600 million were be used to provide state guarantees to exporters and banks who manage to secure sovereign guarantees from the countries where Russian exports are delivered. Another $100 million were allocated to the Russian Export-Import Bank (Roseximbank) to provide guarantees on tender and advance payments, and to finance export loans and an additional $150 million - to subsidize interest rates on loans received by Russian exporters.
Speaking of giving Russian exporters guarantees Zhukov, quoted by RIA Novosti, said that "it is important to promote our production abroad, including to the markets of developing countries". The Deputy Prime Minister said that the budget for 2006 presupposes spending of $500 million to support Russian producers who work in the space industry, in nuclear power plant construction, in energy and hi-tech spheres. Zhukov also noted that the volume of guarantees will depend on the level of risks in each specific country.
Meanwhile this year the Russian government allocated as much as $850 million for support of Russian exporters. Out of this sum $600 million were be used to provide state guarantees to exporters and banks who manage to secure sovereign guarantees from the countries where Russian exports are delivered. Another $100 million were allocated to the Russian Export-Import Bank (Roseximbank) to provide guarantees on tender and advance payments, and to finance export loans and an additional $150 million - to subsidize interest rates on loans received by Russian exporters.