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Russia to continue granting subsidies to support industries

January 13, 18:15 UTC+3 MOSCOW

All sectors of Russian industrial production showed growth in 2016 in comparison with the previous year, except for car industry

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MOSCOW, January 13. /TASS/. The Russian government cannot abandon granting subsidies to development industrial production, Industry and Trade Minister Denis Manturov said speaking at the Gaidar forum on Friday.

"Yesterday they said that it is necessary to stop granting subsidies to industries. I would be happy not to go to the Finance Ministry and not to ask money for another industry, which needs support in our opinion. But today it is impossible," he said.

According to the minister, currently the state, unfortunately, cannot stop paying compensations to industrial enterprises helping them repay loans and develop exports.

According to the ministry’s estimate, in end of 2016 all sectors of Russian industrial production showed growth in comparison with the previous year, except for car industry.

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