MOSCOW: The Russian government said yesterday it has pledged 6bn roubles ($110m) to help arms exporters service loans from domestic banks, in a further show of state support for companies hit by the country’s financial crisis.
The government has taken steps to support state companies and banks and to stabilise the rouble, but analysts are pessimistic on the outlook for Russia’s economy and currency. The government said it had pledged subsidies for Russian exporters of “military purpose” goods, to reimburse part of their interest payments on loans from the domestic banks including state development bank VEB.
It said that the support will amount to 2.9bn roubles in 2015 and 2.94bn roubles in 2016. Reuters
