ST. PETERSBURG – The Russian government plans to increase direct and indirect subsidies to the country’s auto industry to RR80 billion ($1.25 billion) in 2016, almost 60% above this year’s allocation. A spokesman for Russian Industry and Trade Minister Denis Manturov says most of the subsidies are earmarked for compensating local automakers for interest rates on bank loans and for losses resulting from currency fluctuations. A portion of the subsidies will go to ...


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