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Russia’s automotive industry to see 10% growth by end of 2017 - minister

September 24, 0:19 UTC+3

Manufacturers of railcars and agricultural machinery are taking the lead in the sector, Industry and Trade Minister Denis Manturov said

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NOVO-OGAREVO, September 23. /TASS/. The Russian automotive industry is expected to show growth of 10% by the end of 2017, Industry and Trade Minister Denis Manturov said at a meeting with President Vladimir Putin on Saturday.

"We proceed from the fact that until the end of the year, an average growth in the car industry will climb by at least 10% in comparison to last year," Manturov said.

Manufacturers of railcars and agricultural machinery are taking the lead in the sector, the minister said.

"We support this branch [agricultural machine-building - TASS] and keep support measures for the next year: 8 bln rubles ($139 mln) will be allocated to compensate supply discounts for national agricultural machinery producers, Manturov said.

Over 13 bln rubles ($225.8 mln) were allocated for these purposes in this year.

"Growth in the agricultural machine-building industry is 30%," the minister added.

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