Lada maker AvtoVAZ major beneficiary of government lifeline.
ST. PETERSBURG, Russia – The Russian government plans to allocate RR99 billion ($3.3 billion) in indirect subsidies for the country’s auto industry in 2014. The payouts are included in an existing state program designed to develop Russian industrial production and increase its competitiveness. The government support is earmarked for transportation of cars from the Far East, subsidization of interest rates on loans, compensation of banks’ expenses on preferential car ...
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