Russia May Budget $6 Bln for Corporate Crisis Aid in 2013

The Russian government may set aside over 200 billion rubles ($6 billion) in the 2013 budget for anti-crisis support to domestic companies in case of further global economic deterioration, Finance Minister Anton Siluanov said on Saturday.

“I do not rule out that we’ll use the same practice adopted for 2012. Possibly, we’ll set aside a sum even larger than the amount for 2012,” Siluanov said.

The Russian government has set aside 200 billion rubles for anti-crisis support to domestic companies in 2012.

Siluanov has said the Finance Ministry advocates envisaging some anti-crisis mechanisms in the 2013 budget, including the creation of a certain reserve to respond to possible crisis manifestations.

The 2012 budget anti-crisis mechanism is based on state guarantees. Russian companies may be granted state guarantees worth 80 billion rubles this year, of which 26 billion rubles of state guarantees have already been approved by the government.


Leave a comment