Russia allocates $1,4bn to support its manufacturing industry

Russia allocates $1,4bn to support its manufacturing industry
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The Russian government will allocate 80 billion rubles, that is $1,4 billion at a current exchange rates, in subsidies to support mechanical engineering, consumer industry and other manufacturing industries, the Prime Minister of Russia, Dmitry Medvedev, announced on Thursday during a government session.

“Our industrial production shows growth, what is important is that the manufacturing sector shows good rates. In order to ensure their further development, more than 80 billion rubles will be allocated,” - Dmitry Medvedev noted.

The above mentioned funds are intended to support Russia’s engineering, consumer and other manufacturing industries to ensure the availability of credits, import substitution and the creation of modern industries, the Prime Minister stressed.