An economic stimulus plan for 2009 will be submitted to the Russian government on Friday (April 4) and considered on April 9 according to Oleg Fomichev, head of the Economic Development Ministry’s strategic management and budgeting department.
ITAR-TASS reported that Fomichev was speaking at a meeting of a government commission for social and labour relations.
While the plan has been approved in principle, final approval is still pending.
ITAR-TASS said the plan envisages supporting Russia’s financial system, as well as the housing, agricultural, and auto industries.
AvtoVAZ can expect over 20bn roubles in state funds and should attract a further 90bn itself, Russia’s prime minister Vladimir Putin said on Monday.
He told a meeting with AvtoVAZ’s workers the factory needed the money to pay debts to parts suppliers and redeem other debts.