The Russian government may downsize its earlier plans to invest 180 billion roubles in the development of the car industry until 2020, according to a Russian newspaper report.
Business daily Vedomosti reported that the government now expects to spend 126 billion roubles subsidising interest rates for auto industry loans and the scrappage scheme, with the remaining 54 billion roubles earmarked for the development of auto components suppliers and support of single-industry cities, Novak said.
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It’s that 54 billion rouble element that may be under threat.
The newspaper reported that the government support may now cut the 54 billion rouble programme.
