June 9, 2009
Russian Government’s Anti-Crisis Programme for 2009
Introduction
After ten years of continuous economic growth Russia has faced a very serious economic challenge. The global economic crisis is causing a drop in production, growth of unemployment and reduction in earnings in all countries. The global economic downturn is affecting Russia in a special way because of its deformed economic structure, high dependence on commodity exports, uncompetitive non-commodity sectors, and a number of immature market institutions, including the financial system.
According to forecasts, the world GDP will decline by almost 0.5% in 2009. The GDP is expected to go down 2.6%-2.7% in the United States, 5%-5.8% in Japan and 2.1%-2.5% in the European Union (EU). People's incomes will plummet in nearly all countries. India and China will preserve positive growth rates, but they will also fall by almost 50% as compared with the previous years. In Russia, the GDP may drop by more than 2%.
The Russian Government and the Central Bank of Russia started implementing anti-crisis measures in September 2008, when the effects of the global economic crisis became pronounced in the Russian economy. In accordance with the instructions issued by President Dmitry Medvedev, an action plan was approved in November 2008 to improve the situation in the financial sector and some economic sectors. It includes emergency measures aimed at protecting the people and the economy from the crisis shock and preserving the viability of the Russian financial sector.
As of now, the implementation of this plan is nearing completion. The implemented anti-crisis measures prevented the growth of the crisis and its transformation into forms threatening the foundations of economic operation. In the current conditions, this allows the Government to focus on current anti-crisis goals and on creating the foundation for sustained socio-economic development in the post-crisis period.
The Anti-Crisis Programme of the Government of the Russian Federation for 2009 (hereinafter referred to as The Programme) is a document formulating the priority goals of overcoming the economic consequences of the crisis and ways to attain them.
The Programme is an optimal combination of anti-crisis measures and long-term projects aimed at creating a new, more efficient economy. The Programme's priorities include honouring commitments to the public, maintaining and developing industrial and technological capabilities, stimulating domestic demand and competition, easing administrative pressure on business, and strengthening the stability of the Russian financial system. The goal is to ensure a macroeconomic balance and pursue the policy of stabilising the national currency and gradually lowering the inflation rate.
At the same time, the Government will redouble its efforts to increase the efficiency and competitiveness of the national economy and encourage its transition to innovations-based development in compliance with the Concept of Long-Term Socio-Economic Development of the Russian Federation until 2020 and the Guidelines for the Government's Operation until 2012. In particular, it will work to enhance human resources, modernise the healthcare, pension, education and the national innovation system, create the groundwork for technological and infrastructure breakthroughs, and consistently ensure the development of market economy institutions.
The Programme takes into account the decisions of the heads of state and government elaborated at the summit of the Group of 20 in London on April 2, 2009. They stipulate measures to restore the economic growth pace and increase the number of jobs, strengthen the financial system and financial regulation, restart full-scale lending and contain protectionism.
The main provisions of the Programme were presented in the Government's report on the results of its operation in 2008, delivered by Prime Minister Vladimir Putin at the State Duma on April 6, 2009.
The 2009 anti-crisis budget was approved with due account of measures stipulated in the Programme. Revenue is expected to drop to 6.7138 trillion roubles in 2009 from 10.9271 trillion roubles forecast in Federal Law No. 204-FZ, dated November 24, 2008, "On the Federal Budget for 2009 and Planning Period of 2010 and 2011" (hereinafter referred to as Federal Law No. 204-FZ). The change called for restructuring federal budget expenditure in accordance with the priorities of the anti-crisis policy. Total expenditure has been increased to 9.6922 trillion roubles from 9.0247 trillion roubles stipulated in Federal Law No. 204-FZ. The budget expenditure that is not connected to the Programme's priorities has been cut by 943.3 billion roubles, while the expenditure directly connected to the financing of the Programme's measures has been increased by 1.3799 trillion roubles.
The socio-economic policy of the Russian Government and the medium-term budget targets (for 2010-2012) will be drafted with due account of the projected measures to implement the Guidelines for the Russian Government's Operation until 2012, proceeding from the need to:
- implement institutional changes to ensure the development of human resources, enhance the effectiveness of education, healthcare and pension security, improve housing conditions, and develop culture;
- cut the gap between groups of population in terms of income;
- lower the dependence of economic growth on the export of commodities, and promote the domestic demand and competitiveness of commodity markets;
- enhance the protection of private property, improve economic institutions, and consistently lower the role of the state as the owner of industrial and financial assets;
- boost innovation efforts, accelerate technological modernisation of economic sectors, and stimulate resource and energy efficiency;
- develop production infrastructure;
- ensure macroeconomic balance, cut budget deficit, lower the inflation and interest rates, stabilise the rouble rate and increase its international attractiveness;
- increase the effectiveness and reliability of the banking system, and stabilise the financial market;
- reduce differences between regions and accelerate the development of depressed and underdeveloped regions.
1. Anti-Crisis Programme Priorities
The Russian Government will use all available economic and social instruments to support the people and preclude destructive processes in the social sphere and the national economy, while at the same time ensuring the attainment of strategic goals of socio-economic development.
The Russian Government will adjust its efforts to a set of priorities.
The first priority is to fully honour commitments to the public and to develop human resources.
The Government will support citizens and families that were the hardest hit by the economic crisis, enhance social support for the public and provision of quality social and medical services, increase the supply of safe quality medicines and assistance to employment, including efforts to curb unemployment by adopting retraining programmes and providing targeted assistance to the unemployed in finding jobs.
It will start modernisation of the pension system, stimulate social insurance and modernise the healthcare and education systems, which implies requisite structural change.
Assistance will be provided to the citizens who buy housing. The Government will facilitate the implementation of the housing development programme and mortgage lending.
The second priority is to maintain and develop industrial and technological capabilities for future growth.
The Government will work to create the environment for greatly enhancing the efficiency of Russian enterprises, but will not replace the responsibility of business in this sphere. Assistance will be provided only to those enterprises that aim to modernise production, increase their efficiency, and supply competitive goods to the market but have temporary problems due to the lack of loans and falling demand.
The Government is prepared to directly invest in fixed assets to preserve key industries. At the same time, it will take measures to strengthen the protection of these enterprises' private owners, including minority shareholders.
The third priority is to stimulate domestic demand for Russian goods as the basis for revitalising economic growth. The Government will take measures to compensate for the shrinking of markets, to lessen dependence on external factors, and to maximally use internal resources.
Also, state demand in the form of investments and acquisitions will be crucial for housing construction, transport infrastructure, and the state defence order. Measures will be taken to protect the domestic market and to provide favoured treatment to Russian producers in accordance with international practice. The focus will be on reviving business activity through subsidising loan interest, developing leasing and supporting consumer lending.
The fourth priority is to stimulate innovation and restructuring of the economy.
Russia must emerge from the crisis with a revived, stronger and modernised economy. The Government will increase support to innovation projects, including projects aimed at technological modernisation and enhanced resource and energy efficiency. State assistance will be granted only to those enterprises that have a programme of enhancing labour productivity, energy efficiency and innovations-based development.
The Government will continue its policy of priority investment in high-tech sectors, including aircraft manufacturing, shipbuilding, space research, nuclear generation, and electronics. At the same time, it will work to create the infrastructure for economic growth, in particular, by increasing budget allocations to the development of the transport infrastructure and renewal of the pool of passenger transportation vehicles.
The fifth priority is to create the environment for economic growth by improving the key market institutions and lifting barriers to business operation.
Measures will be taken to develop competition and improve antimonopoly legislation. The excessive powers of the executive authorities to control businesses will be curtailed, and the list of goods and services liable to obligatory certification will be cut. More efforts are being taken to prevent and preclude corruption.
The highlight will be on giving support and impetus to small and medium-sized businesses. A package of measures will be proposed to lower the tax burden on small business and broaden its access to the programme of state acquisitions. Favourable tariffs have been set for connection to electricity and favourable lease terms have been elaborated for small and medium-sized companies that lease federal property.
The sixth priority is to create a powerful financial system as the reliable foundation for the development of the national economy.
The banking system must become more efficient and free of problem lending institutions. Measures will be taken to expand the resource base and increase the liquidity of the financial system, make bank loans more accessible for the real economy, and ensure the financial rehabilitation of banks.
The focus will be on taking decisions promptly and implementing them without delay.
The relevant measures stipulate the development of a stable financial market that will be attractive to Russian and foreign investors, and of conditions favourable to the development of long-term investment instruments.
The seventh priority is to ensure macroeconomic stability and preserve the trust of Russian and foreign investors.
The Government will pursue a responsible macroeconomic policy to stabilise the rouble rate and lower inflation. Efforts will be taken to curtail the growth of prices of basic necessities, and housing and utility services.
Measures will be taken to reduce the budget deficit, to restructure and optimise financial commitments, and to ensure the targeted and efficient use of budget allocations.
The monetary policy of the Government and the Bank of Russia stipulates measures to lower interest rates and stimulate the growth of people's savings.
To reach these seven priorities there is an objective need to temporarily strengthen the role of the state in the country's economy. The Russian Government will take utmost care so as not to create wrong stimuli in the economy or distort the motives of enterprises and the public, which would undermine long-term development prospects. Priority will be given to private initiative despite the crisis, with the role of the state in the economy gradually decreasing as the crisis draws to its end.
Cooperation with other countries on a bilateral basis and within international organisations is important for overcoming the crisis. Measures will be taken to accelerate integration within the Commonwealth of Independent States and through the establishment of the Customs Union of Russia, Belarus and Kazakhstan.
2. Commitments to the public and development of human resources
The key priority is to fully honour commitments to the public. Relevant allocations from the federal budget (including spending on wages, student grants, medicines and pensions stipulated in legislation) will total 4.3654 trillion roubles in 2009, up 30.4% from 2008. As much as 2.4588 trillion roubles will be allocated from the federal budget for social projects and pensions, compared to 1.8736 trillion roubles in 2008.
Social payments and allowances financed from the federal budget and the Social Insurance Fund will be indexed in accordance with the projected inflation. This concerns above all state allowances for children, maternity (family) capital, as well as payments made in compliance with the legislation on social assistance to certain groups of people eligible for state social assistance.
The decision to issue lump sums of 12,000 roubles from the maternity (family) capital for immediate needs will enhance the social protection of families with children in 2009. At the same time, the ultimate purpose of maternity (family) capital remains education for children, pension assistance for mothers, and acquisition of housing.
The next goal is to start modernising the pension system in order to greatly increase the size of pensions and balance the pension system.
The size of social pensions will be raised to pensioners' subsistence wage in 2009, and the average size of retirement pensions will be increased by 35% in 2009 and 45% in 2010. The pensioners whose pensions are below the pensioners' subsistence wage in the given region will receive special social payments.
On January 1, 2010, the monetary assessment of pension rights acquired on January 1, 2002 will be increased by 10% plus 1% for each year of employment before 1991.
The insurance principles of the pension system will be further developed, including the introduction of insurance payments to replace the unified social tax. At the same time, seeking to prevent the growth of the tax burden on business, insurance premiums will not be allowed to grow above the 2009 level until January 1, 2011. On January 1, 2010, a flat rate will become effective for calculating insurance payments from the annual income not exceeding 415,000 roubles.
Implementation of the priority national project Healthcare will continue. In 2009, a package of measures will be implemented to encourage healthy habits and to reduce smoking and drinking, especially by young people. The Government will continue to develop the blood transfusion system and assistance to mothers and children, vascular patients, as well as to victims of traffic accidents. A new block of measures will be taken to improve medical assistance for cancer and tuberculosis patients.
Overall, federal budget allocations under the title "Healthcare, Physical Training and Sports" are to be increased to 335.1 billion roubles from 278.2 billion in 2008.
The goal of the Russian Government is to ensure the affordability of safe and effective quality medicines.
The Government will tighten control over the pricing of medicines subsidised from the budget by:
- introducing obligatory registration of the manufacturer's ceiling prices of essential and life-saving medicines;
- monitoring compliance by distributors and pharmacies with the ceiling wholesale and retail surcharges for medicines;
- reviewing the list of essential and life-saving medicines to stipulate an increase in the share of Russian-made medicines.
A key goal of the Government's anti-crisis package is to ease tensions on the employment market.
The ceiling unemployment benefit has increased by 50% since the start of the year. Additional subventions to the constituent regions' budgets for implementing social support programmes turned over to the regional authorities and providing services to the unemployed have been increased by 33.95 billion roubles, out of which 29.8 billion roubles are to be spent on social assistance of the people officially registered as unemployed. Besides, 43.7 billion roubles are to be allocated additionally from the federal budget to the regional budgets for stabilising the situation in the labour market.
All constituent regions of the Russian Federation have approved regional programmes stipulating vocational retraining of people in case of mass layoffs, creation of temporary jobs, relocation of people to the site of new jobs, and promotion of small businesses and self-employment. The total cost of the adopted regional programmes exceeds 25 billion roubles, of which federal subsidies account for 90%.
The Government is conducting weekly monitoring of personnel cuts due to company liquidation, personnel layoffs and the shift of companies to a shorter working week. Employees and employers are better informed than in the past about state guarantees of employment and the labour market situation in particular regions. All constituent regions have established job centres and telephone hotlines. The information website Jobs in Russia updates its vacancy list once a week.
On the other hand, companies need to shed redundant and ineffective jobs while ensuring the released personnel's competitiveness in the employment market. It is planned to provide preventive vocational training, retraining and skill improvement for over 170,000 employees, create nearly a million temporary and public works jobs, grant financial aid to 57,000 entrepreneurs, and provide relocation grants to 15,000 people. Educational institutions will be selected through tenders to implement the retraining programmes, with a focus on training personnel for the housing and utilities sector.
Implementation of small business development programmes jointly with the regions, which will create up to 500,000 jobs, will help solve the problem.
A special emphasis will be made on preserving and creating jobs for people with disabilities, who are even more vulnerable in the current labour market situation. One of the conditions of receiving government support for a strategic or any other eligible company will be preserving the jobs held by disabled people.
To guarantee Russian citizens' employment priority, foreign workforce employment quotas have been cut to a half of regional demands.
Emergency anti-crisis measures in education will be focused on assistance to students and their employment.
The Government will take measures to support students. It will organise assistance to students in fee-paying programmes who have financial problems, in particular by helping them to transfer into budget-paid programmes if there are vacancies. Over 26,000 fee-paying students will be transferred into government-paid programmes. The Government will promote the low interest student loan experiment.
The employment of school, university and college graduates is complicated during the crisis, and so has become an essential responsibility of the Government. Measures will be taken to preserve the number of grants for free accommodation for full-time students at the 2008 level. The current 20,000 free places for Master's degree studies will increase to 35,000, and for postgraduate research by 3,000 to 29,000.
Labour market demand will be monitored, and job counselling will be available in schools. Colleges and universities will change their organisation to enrol more students in government-paid programmes to train professionals for high-tech industries, agriculture and construction.
A law will be adopted authorising educational and research institutions to establish small companies. Over 2,500 small businesses will be established to create up to 30,000 jobs, primarily for university graduates. Also of key importance will be the promotion of target-oriented final-year students' training programme under contracts with prospective employers.
Assistance to culture remains a key priority. Overall, federal budget allocations stipulated in the item on culture, filmmaking and mass media will be increased to 109.6 billion roubles in 2009 from 88.8 billion in 2008.
Discount tickets will be preserved for cultural establishments and the list of people eligible for such discounts will be increased. State assistance to cultural unions, including for financial support to non-working union members, as well as to workers of culture and the arts holding the title of People's Artist of the USSR has been reaffirmed at the previous level.
Another key priority of the anti-crisis package is to provide housing to the people at affordable prices and to help the housing construction sector. Federal budget spending on housing construction and provision (including allocations from the National Wealth Fund) will total 501 billion roubles in 2009, a growth of 130% compared to 2008.
The programme of assistance to housing construction includes:
- measures to honour the Government's commitment to provide housing to servicemen and retired servicemen, and assistance to the young families that need better housing;
- contribution to municipal infrastructure programmes;
- assistance to mortgage loan restructuring;
- assistance to low-rise construction projects.
A crucial part of the programme provides for allocating housing to all veterans of the Great Patriotic War in 2009.
Mechanisms will be created to effectively use state funds and the people's savings in the construction of economy class housing at affordable prices beginning in 2010. Legislation has been drafted for the operation of housing construction cooperatives, and the procedure for granting land plots for the construction of social and economy class housing will be simplified.
Of crucial importance for the Government's assistance to housing construction is the operation of the Fund of Assistance to the Housing and Utilities Reform (hereinafter referred to as The Fund). Through the Fund's programmes of resettling people from dangerous and dilapidated housing and repairing residential blocks, more than 120,000 people have received or will soon receive new flats. Overall, 7 million Russians will have their housing conditions improved thanks to these programmes.
The Fund works in 79 constituent regions of the Russian Federation and has a total of 153.3 billion roubles at its disposal (including contributions from the regions). The implementation of targeted regional programmes co-financed by the Fund ensures employment for 1.5 million people.
Seeking to protect the people and encourage the demand for housing, the Government will take measures to support the people who buy housing and to develop mortgage lending.
The Government, acting jointly with banks with state capital and the Agency for Housing Mortgage Lending (AHML), is restructuring mortgage loans held by the people in a difficult financial situation. For this purpose, the AHML's authorised capital will be increased by 20 billion roubles in 2009 and another 40 billion roubles will be loaned to the Agency.
Assistance will be provided to mortgage holders eligible for maternity (family) capital, a total of 88,000 families. The Government will allocate 26.3 billion roubles for this purpose from the federal budget.
A vital factor of supporting the demand for housing is the decision to augment [company] expenditures by the sums the companies allocate to compensate their employees' payments of interest on loans taken out to buy and/or build housing.
3. Promotion of domestic demand and innovation, and development of industrial and production potential
The Government will monitor the situation at economic backbone companies in order to prevent mass layoffs and the loss of accumulated industrial capabilities.
The Government will support cost-effective enterprises facing temporary difficulties caused by the lack of demand and limited availability of loans. At the same time, the crisis is the time when the economy should free itself of inefficient enterprises. That is why the Government will use the bankruptcy mechanism to solve the problems created by inefficient management, strategic mistakes in management and insufficient attention of owners to the efficiency of their assets. At the same time, the Government will protect the rights of workers and will preserve vital strategic production assets during bankruptcy proceedings.
The goal of forming an economic basis for future growth implies the need to provide assistance to the establishment of new enterprises based on cutting-edge technologies and high labour productivity. With this goal in view, the Government will make efforts to attract investment, including direct foreign investment, in the Russian economy.
On the whole, federal budget allocations for the national economy will increase by 70.1% from 1.0250 trillion roubles in 2008 to 1.7435 trillion roubles in 2009.
Overall support for real economy sector
The Government will implement a number of measures in order to expand the mechanism for supporting cost-effective enterprises.
The Government approved a list of 295 backbone organisations, established a system of monitoring these organisations and created a transparent decision-making mechanism for providing state support to them in certain cases.
The Government will use such instruments as additional capitalisation, direct state support and state guarantees of loans to support such enterprises. The 2009 federal budget stipulates up to 300 billion roubles in the form of state guarantees for corporate loans, including those for strategic defence industry enterprises and other enterprises chosen by the Government in line with the established procedure.
First of all, support will be provided to backbone enterprises and organisations that have a financial rehabilitation and production efficiency programme, and only if they assume a number of commitments, such as:
- to radically reduce or cancel bonuses to the top management;
- to ensure 100% transparency of their financial and economic operation;
- to ensure unconditional compliance with the Labour Code regarding the employers' obligations to employees during layoffs and the commitment to preserve workers from socially vulnerable groups, such as disabled persons;
- to settle relations with suppliers and contractors;
- to develop a programme of the company's innovations-based development, including measures to enhance energy efficiency, to create and market new products and introduce state-of-the-art technologies.
The enterprises receiving state assistance will be responsible for submitting a full report on the results of the fulfilment of the commitments undertaken with a view to receiving state assistance in 2009. The enterprises receiving large financial assistance must publish their reports.
In addition to the federal list, there is a list of 1,148 regional backbone companies, the situation at which is monitored by the Ministry of Regional Development in joint cooperation with regional authorities.
The reduction of the tax burden on domestic industry enterprises is a high priority aspect of the anti-crisis programme.
The profit tax has been cut to 20%. Companies investing in equipment have been issued additional depreciation privileges. Tax breaks have been approved for priority research projects. Taxes have been lifted from the funds allocated to companies for the training of personnel. VAT has been lifted from the import of technological equipment not produced in Russia. The economy will receive an additional 600 billion roubles as a result of these measures.
Measures will be taken to stimulate domestic demand for the output of Russian enterprises on the part of the state, the private sector and the public.
The legislation regarding the system of state acquisitions will be streamlined, in particular to settle issues pertaining to the purchase of high-tech products. Opportunities for lease operations during state purchases have been created. Efforts are being taken to regulate the procedure for acquisitions of natural monopolies and state corporations' subsidiaries and to ensure privileges for Russian producers. Additional measures have been taken to encourage target loans of enterprises against their output (factoring).
The size of state support to industrial products export has been increased through the reimbursement of part of Russian exporters' spending on the payment of interest on loans taken out at Russian banks. In 2009, the federal budget will allocate 9 billion roubles, or three times more than last year, to support industrial products exports.
The state demand for the products of Russian enterprises will also be supported through the implementation of investment projects within federal targeted programmes and the federal selective investment programme, as well as projects of the Investment Fund of the Russian Federation.
Federal budget allocations to implement federal targeted programmes and the non-programme section of the federal selective investment programme, which totalled 980.4 billion roubles in 2008, will reach 1.1325 trillion roubles in 2009.
The Government will take additional measures to stimulate innovation activity in the economy. A simplified procedure for marketing new high-tech products will be based on a voluntary declaration of compliance, customs registration of exported and imported high-tech goods and industrial equipment will be facilitated, and a programme for creating technical regulations and national standards will be actualised with a view to innovation development priorities.
Measures will be taken to support financially the implementation of the enterprises' technological re-equipment programmes. The Government will also encourage economic innovations by implementing innovations-based federal targeted programmes, allocations to which will be maintained at the planned level or reduced minimally. Requirements on the drafting and approval of innovation development programmes will be introduced for the natural monopolies and large state companies' subsidiaries.
Seed funds will be created with the assistance of the Russian Venture Company to support small innovation businesses.
Energy efficiency will become a crucial factor of the Government's policy of modernising the economy during the crisis. Legal mechanisms motivating people and businesses to start saving energy will be adopted. Regional pilot projects have been launched and a programme of enhancing energy efficiency in the budget sector drafted.
A vital factor influencing the development of Russian business during the economic downturn is the state policy in the sphere of tariffs on goods (services) of natural monopolies' subsidiaries. The Government will restrain the growth of tariffs compared to the planned schedule.
The natural monopolies' investment programmes will be financed mostly through enhancement of the effectiveness of these companies and outlays reductions (the introduction of energy-saving technologies, modern logistics schemes, curtailment of salaries growth and management bonuses). The practice of fining customers for the failure to buy the contractual gas volumes should be excluded in order to enhance energy efficiency.
The state will highlight the development of the most promising sectors in terms of import substitution and encouragement of domestic demand. The point at issue is agricultural produce, housing construction, the food and light industries, pharmaceuticals, automobile manufacturing and domestic tourism. With these goals in mind, instruments for assisting the modernisation and creation of import replacing enterprises will be set up in these sectors. The social sphere, in particular healthcare and education, has a great potential to increase domestic demand. A programme of encouraging domestic tourism will also be drafted and implemented.
Support for individual economic sectors
Apart from systemic measures taken to support all economic sectors, the Government is taking measures to prevent irreparable consequences of the crisis in individual sectors that have a substantial multiplication effect on related industries (the automotive industry and housing construction), are crucial for food security and social stability (agriculture, the fishing industry, the timber industry and trade), national defence (the defence industry) and economic operation in general (fuel and energy, transport).
Agriculture
Over 212 billion roubles of federal funding, or 45% more than in 2008, will be allocated for the development of agriculture and the fishing industry. The budgets of constituent entities will allocate another 95 billion roubles for these purposes.
In 2009, the Government will take measures to implement the state programme for the development of agriculture and the regulation of agricultural produce, raw materials and food markets in 2008-2012, including efforts to make financial resources more affordable in the industry, to protect the domestic market and to stimulate agricultural exports.
Decisions have been made to subsidise 100% of the Central Bank's refinance rate on loans for individual agricultural branches (meat and dairy livestock breeding), with allocations amounting to 7 billion roubles. Another 10 billion roubles has been approved for the compensation of 80% of the Central Bank's refinance rate on loans issued to other agribusinesses by Russian lending organisations. There are plans to subsidise loans taken out for refinancing investment loans as well as those extended by three years.
The Government has additionally increased the market capitalisation of Rosselkhozbank by 45 billion roubles and Rosagroleasing by 25 billion roubles.
The Government will also subsidise the interest rate on certain types of investment and short-term loans taken out by fishing companies to build and modernise their vessels and the fish-processing infrastructure, as well as for material and technical supplies and equipment of fishing vessels (1.07 billion roubles).
The automotive industry
In 2009, an additional 39 billion roubles worth of federal funding will be allocated for supporting the automotive industry under the anti-crisis programme.
Seeking to stimulate demand for motor vehicles, the Government will refinance two-thirds of the refinance rate on three-year loans for purchasing cars manufactured in Russia (2 billion roubles). A subsidy of 2 billion roubles will be issued to Russian Railways for the transportation of Russian-made cars to Russia's Far East.
Private demand will also be encouraged by state support to auto leasing. As much as a billion roubles is to be allocated for subsidising the interest rate (up to two-thirds of the refinance rate) for the lease of motor vehicles.
The Government will guarantee the centralised purchase of motor vehicles for federal bodies of executive authority, their territorial units and subordinated divisions (12.5 billion roubles). Considerable state demand will also be encouraged through the implementation of a programme to renew the motor vehicle pool used by constituent entities and municipal authorities for passenger transportation, medical purposes, the police, as well as road, utility and special vehicles (20 billion roubles).
The Government will subsidise part of the interest rate on loans taken in Russian lending organisations by Russian automotive industry and transport engineering companies for production retooling (2.5 billion roubles).
The Government will review the schedules of repayment of restructured debts on taxes and duties to the federal budget, as well as insurance premiums to non-budget funds. In particular, the deadlines for the payment of principal debt in 2009-2015 will be postponed until 2011-2017.
The defence industry
In 2009, 969 billion roubles worth of federal funding, or 38% more than in 2008, will be allocated for the support of the defence industry.
Up to 15 billion roubles will be allocated for subsidies to defence companies implementing state defence contracts and included in the consolidated register, for the payment of part of their spending on loan interest. Subsidies will also be provided for the repayment of spending or profit shortfall related to the production of goods, work on contracts and provision of services for state requirements under the state defence order and the fulfilment of Russia's international commitments.
In 2009, the Government will also set aside one billion roubles for subsidies to defence organisations for the payment of interest on loans taken out to implement innovation and investment projects stipulating the manufacture of high-tech goods.
Legislation has been formulated for expanding the practice of providing investment tax loans to defence organisations implementing state defence contracts.
State guarantees are to be issued for loans taken out by backbone defence companies for their basic industrial operation and capital investment. The possibility of increasing state guarantees to 70% will be considered, thereby making it possible to release the collateral value, so that the above organisations will be able to take out additional loans, including those needed for development. State guarantees for these purposes will total up to 100 billion roubles.
In 2009, subsidies to strategic defence organisations and enterprises will be increased by an additional 3 billion roubles to ensure their financial recovery.
Considerable federal funds will be allocated for the purpose of increasing the market capitalisation of backbone defence organisations. The state has already purchased an additional share issue of the Russian Aircraft Corporation MiG worth 15 billion roubles.
A decision has been made regarding the purchase of an additional share issue of the Kazan Gorbunov Aircraft Manufacturing Corporation worth 4.128 billion roubles, that of the Khrunichev State Research and Production Space Centre worth 8 billion roubles and that of the Chernyshev Engineering Enterprise in Moscow worth 2.9 billion roubles.
The transport sector
The subsequent creation of an infrastructure backlog will create the basis for future economic development. In 2009, federal funds for the transport sector will increase by 100 billion roubles on 2008 and will total 560 billion roubles. 319 billion roubles will be spent on road construction, whereas the relevant 2008 federal allocations totalled 295 billion roubles.
The Government is taking measures to stimulate demand for service, ensure affordable funding and encourage the technical retooling and acquisition of modern transport vehicles.
It has been decided to establish a state leasing company in the transport sector on the basis of the State Transport Leasing Company. To maintain the speed of construction of the transport infrastructure, the minimum rate of co-financing such projects from the federal budget has been increased from 80% to 95% of budgetary allocations.
Measures are being taken to ensure the non-discriminatory access of fuel companies and airlines to the refuelling infrastructure at airports in order to cut airlines' expenses. To support their acquisition of modern aircraft, airlines will be granted a customs payments deferral of up to six months regarding imported aircraft and their components, engines included. The airlines will not have to provide a collateral.
The Government will support rail transportation. It will float the bonds of Russian Railways (RZD). Seven issues of infrastructure bonds worth 100 billion roubles have been registered. The bonds will be floated every month (in February-May 2009) at 30 billion roubles a month.
RZD's shortfall in revenues due to a decline in the growth of rail transportation tariffs will be compensated in 2009 by an increase in its statutory capital. 50 billion roubles will be allocated for this purpose.
The timber sector
The Government will ensure the issue of loans to complete the construction of facilities listed among priority forest management investment projects. It has approved a postponement of payments on loans taken out for priority investment projects that are in their final stages for a period of one or two years (or the possibility of their refinancing) and allocated 325 billion roubles for subsidising interest on loans taken out for the creation of inter-seasonal stocks of timber, raw materials and fuel.
The metallurgical sector
The Government has taken several decisions regarding customs and tariff regulation, which support non-ferrous exports and ensure support for Russian producers of ferrous metals on the domestic market.
In 2009, customs control of ferrous metals imports will be strengthened regarding:
- customs clearance of imported rolled stock in order to prevent the import of goods at undervalued customs cost and fraudulent declaration of imported goods undervalued for customs purposes;
- customs checkpoints for the clearance of imported pipes and metal rolled stock and equipment for radiological and phytosanitary control.
The anti-crisis package in the industry will be linked with the support of exports and the encouragement of domestic demand by the construction sector, engineering and the fuel and energy sector.
4. Improving key market institutions and eliminating unjustified barriers for businesses
Competitive policy remains the key instrument for improving efficiency and competitiveness of the Russian economy. A range of measures approved by the Government's Programme for Development of Competition in the Russian Federation will have to be implemented, including:
- revision of approaches to controlling economic concentration;
- reduction of market entry costs for products and services;
- simplification of access to the infrastructure of natural monopolies;
- increasing protection of competitiveness against anti-competitive activities of government agencies.
Measures against increasing prices on socially important products, especially foodstuffs, acquire particular significance under conditions of economic downturn. Toward this end, the Government will strengthen the antimonopoly control in trade. Special guidelines governing foodstuffs trade will be established. Measures will be taken to preclude discrimination against Russian-made products by trade organisations, leading, among other implications, to unjustified price increases on foodstuffs. Together with regional and municipal authorities, the Government will undertake measures to develop competitiveness in trade through expanding weekend fares, creating favourable conditions for convenience stores, agricultural markets, and growth of small business working in retail.
Efforts to prevent and preclude bureaucrats' activities aimed at corrupt interference in business affairs will be drastically strengthened, including the following activities:
- imposition of licensing procedures not required by federal laws;
- violation of sales (leasing) procedures of land and property owned by the state (municipality);
- actions by government agencies aimed at restricting the movement of goods and other hindrances for businessmen;
- non-compliance of federal and local legal regulations on commercial activity with antimonopoly legislation.
Monitoring will be established to ensure fair price setting by organisations providing fee-based certification and other licensing services required for business operation. Measures have been taken to reform the system of mandatory inspections on the basis of accredited commercial organisations. The latter will have civil liability for the quality of services rendered.
The accountability for administrative offences by way of disqualification will be legally established for individuals occupying positions in the federal civil service, the civil service of a constituent entity of the Russian Federation, as well as positions in law enforcement agencies and municipal services.
Measures will be taken to reduce and simplify licensing procedures, administered by the state and local government agencies. The outcome of these measures along with the greatest possible depersonalisation of the interaction between government officials, individuals and organisations will contribute to the fight against corruption.
The priority measures include improving procedures in the fields of licensing and technical regulation. It is necessary to elaborate a regulatory framework in the following fields: simplifying the procedure for obtaining and reissuing licenses; increasing the transparency and accessibility of the information on the licensing agencies' activities for individuals and businesses; developing a single licensing procedure for the same type of licensees; eliminating the pre-licensing inspection fee for the licensees; harmonising requirements for the licensed activities.
It is important to complete the technical regulation reform, which will result in a significant reduction of mandatory state requirements to product and services characteristics. First of all, the list of goods and services subject to mandatory certification will be reduced. In addition, technical regulations will be adopted, which are prioritised by the Federal Law On Technical Regulation. The regulations' elaboration process will be public, and the opinions of a wide circle of market participants and their associations will be taken into account to achieve a balance between the interests of the Government and the business community.
Measures will be taken to regulate the procedure for the provision of services associated with the execution of state functions by government agencies, local self-government bodies, their subordinate organisations, as well as other bodies and organisations executing the functions of the indicated agencies.
A range of measures is elaborated to ensure that government agencies, their territorial bodies and subordinated organisations, as well as local self-government bodies comply with the law when providing state and municipal fee-based services.
The extended use of electronic technologies to automate and simplify the interaction of legal entities and individuals with regulating agencies is an important area for reducing administrative barriers. Toward this end, the introduction of an electronic documents exchange system among government agencies will be accelerated.
Amendments will be introduced to the Administrative Offences Code of the Russian Federation with respect to modifying the system of sanctions imposed during inspection of commercial entities. If a violation is revealed, the company should receive an initial warning to rectify the violation; only if the company fails to comply with the instruction, should a fine be imposed.
Support for small and medium-sized businesses is a priority component of the anti-crisis measures. In 2009, 40.5 billion roubles will be allocated for this purpose, which is 11 times more than in 2008. The federal expenditures for the support of small business in 2009 will increase by 6.2 billion roubles, totalling 10.5 billion roubles.
The new procedure on inspections of legal entities and individual entrepreneurs will come into effect on May 1. The inspections will be conducted no more than once in three years, and unscheduled inspections will be allowed only if sanctioned by a prosecutor.
The range of goods, jobs and services subject to mandatory certification will also be reduced. The sphere of compliance declarations will be extended. This will significantly cut the business costs associated with mandatory confirmation of safety compliance for goods (jobs, services).
Reduced tariffs have been established for connection to power grids. For the businesses consuming up to 15 kW, the cost of the connection will be less than 550 roubles; those consuming between 15 and 100 kW will only need to provide a deposit amounting to 5% of the connection cost with a possibility to arrange for a 3-year interest-free instalment payment scheme.
The obligatory state contracts quota (at least 20%) for small businesses has been extended to both state and municipal contracting institutions (entities). As a result, the demand for products offered by small businesses will increase by 25 billion roubles. Also, reduced federal property leasing rates will be established for small and medium-sized businesses. The property can be leased to other business entities only if there are no applications from small and medium-sized businesses.
A special scheme will be developed to refinance the loans issued to small and medium-sized businesses by Russian credit institutions; a system of non-banking micro-finance institutions will be developed to provide financial assistance to micro enterprises and beginner entrepreneurs. The schemes will be funded by Vnesheconombank. The latter's programme of financial support to small and medium-sized businesses will be extended to 30 billion roubles, including 1 billion roubles for micro-crediting purposes.
The federal small and medium-sized business support subsidies to the regions will be allocated proportional to the share of small and medium-sized businesses operating in a given region. The level of co-financing will depend on the estimated budget size of the constituent entity of the Russian Federation. In accordance with this scheme, the federal budget will finance approximately up to 80% of the small and medium-sized business support expenditures for 78 constituent entities of the federation.
For the first time in 2009, the regions will able to receive advance transfer of subsidies to support small and medium-sized businesses from the federal budget, amounting to up to 60% of the total subsidy between the 1st and 3rd quarters of 2009.
The following additional measures in support of small and medium-sized businesses will be adopted:
- establishing a legal framework for microfinance activities, improving the credit cooperation legislation as an integral part of the financial system in the Russian Federation;
- developing alternative trade forms, such as weekend fairs, to provide the consumers with affordable basic goods;
- improving the agricultural products' certification system, to provide for the fastest possible delivery of perishable goods to shops;
- improving the legislation on the preemptive right of small and medium-sized businesses to buy out state and municipal real estate with respect to the lessee's good faith principle;
- introducing administrative accountability for state and municipal contracting agencies for failure to comply with the requirements of the federal law on mandatory small business quota (no less than 20%).
5. Building a solid financial system
Improving the liquidity status of the country's financial system and expanding its resource base are priority measures on the Government anti-crisis plan for this sector.
Refinancing of the banking sector is being conducted in association with the Bank of Russia. The policy is designed to ensure that the cash reaches the target companies. In 2008, over 2 trillion roubles was provided for this purpose by all sources, including the federal budget, state corporations' resources, and Bank of Russia refinancing funds. These support measures will be continued into 2009, mainly with the Bank of Russia resources.
There is a possibility to allocate in 2009 495 billion roubles to support the banking system, including 280 billion roubles for the banks' capitalisation, and 215 billion from the National Wealth Fund. The government support provided will be harmonised with lending to the real economy sectors.
A series of decisions by the Bank of Russia is aimed at expanding the banks' resource base. The Bank of Russia's Lombard List has been expanded to provide additional opportunities for refinancing lending institutions. The term of loans secured by non-market assets (such as promissory notes, guarantees or other receivables) has been extended.
There will be tighter control over the implementation of measures to prevent bankruptcies and over bankruptcy proceedings of non-bank financial institutions, to help ailing companies preserve some assets while satisfying their creditors' claims, including individual creditors.
Another important Government priority is to make bank resources more available to companies in real sectors of the economy.
The Bank of Russia has tightened control over the management bodies of banks that have received government financial aid, including subordinated loans. The Bank of Russia has appointed its representatives to these banks' boards to monitor their work.
They will supervise such issues as the size of the loans, guarantees, asset and liabilities management, and compensation packages of the bank's executives.
The procedure for extending state guarantees has been simplified. There is an option for the Government to delegate to the Finance Ministry the right to decide on state guarantees of specific companies' loans, each guarantee worth up to 10 billion roubles.
The maximum size of state guarantee to support exports of industrial products has been increased from $50 million to $150 million, and this also can be decided by the Finance Ministry.
To further stabilise the corporate bonds market, exchange-traded bonds maturity has been extended from one to three years. Apart from open-end joint stock companies, state corporations as well as other economic entities have been authorised to issue bonds.
The third Government priority in the sector is to assist rehabilitation of struggling banks that are important for the general sustainability of the Russian banking system.
The Government and the Bank of Russia will be stimulating consolidation in the banking sector, promoting the establishment of large financially sustainable and internationally competitive banks, which would be capable of long-term project financing.
The Bank of Russia has been authorised to sign agreements with banks to compensate for part of their losses from loans issued to companies that lost their banking licences.
6. Ensuring macroeconomic stability
The Russian Government, in association with the Bank of Russia, will be implementing a balanced macroeconomic policy aimed at supporting a balance between enhancing social support programmes and stimulating economic development, on the one hand, and keeping inflation reasonable and the rouble stable, on the other.
Keeping this balance will imply the following macroeconomic priorities:
- a budget policy involving higher efficiency and targeted nature of federal spending, also through modernisation of the public sector and restructuring at companies, social services and agencies financed by the Government;
- a gradual slowdown of inflation, from 13% in 2009 to 10% in 2010 and 7.5% in 2011, also by pursuing a conservative monetary policy (providing enough liquidity to the economy), encouraging competition and tightening anti-monopoly control;
- boosting confidence in the rouble as a savings instrument; and
- efforts to expand bank lending and ensure cheaper loans to companies and individuals.
Supporting Russia's macroeconomic sustainability requires maintaining the country's Reserve Fund at a certain level, sufficient gold and foreign currency reserves, a positive balance of foreign trade and a consistent reduction of the budget deficit. The Government plans to reduce the federal budget deficit to 3% of the GDP in 2011. The National Wealth Fund will be equal to about 2% of the GDP by the end of 2011.
These policies should bring back the confidence of Russian and foreign investors, which would restore the inflow of capital and economic growth.
The Government is not planning to accumulate substantial debt on the domestic financial markets, so that the banking system's entire investment resources can be channelled into lending to individuals and domestic companies.
7. Implementation of anti-crisis policies in Russian regions
Regional governments are implementing one and the same set of anti-crisis policies, including measures co-financed by the federal Government and other measures, independently financed from the regional and local budgets.
The federal Government has channelled 1.31 trillion roubles for inter-budget transfers in 2009, nearly 20% more than in 2008.
The key goals of the anti-crisis policies implemented by the regions include:
- balancing regional and municipal budgets to accurately meet public commitments, pay wages to employees of services and agencies financed by the Government, and cover priority expenses;
- supporting employment, creating and preserving jobs.
The key goal of the Government's anti-crisis policy in the regions is to maintain a balanced budget system. This is achieved through providing federal financial aid to regional budgets and through pursuing a reasonable and consistent regional policy, involving the following:
- optimising budget expenditures, including those on capital investment , and restructuring the network of companies, social services and agencies financed by the Government;
- preventing accumulation of debt on priority liabilities; and
- abandoning the practice of boosting regional budget revenues by cutting municipal incomes.
The federal Government will provide support to the regional budgets, including subsidies to support the regions' efforts to balance their budgets, and loans; 300 billion roubles has already been allocated for that purpose. In addition, federal Government financing of regional expenditures will be reduced in compliance with a Government decision.
Another goal involves joint implementation of an employment support programme. The federal Government will provide employment support and unemployment relief subsidies to the regions for the following projects:
- vocational training and retraining of employees threatened by mass layoffs;
- organisation of community work, temporary employment, internship and experience-gaining programmes for unemployed persons and individuals seeking jobs such as new graduates, and employees threatened by mass layoffs;
- targeted support of people wishing to move to a different location where jobs are available, including jobs created under targeted federal programmes and investment projects; and
- support for small and medium-sized businesses and self-employment of jobless people.
The programmes will be harmonised with measures that the regions implement with federal subventions, exercising the powers delegated to them in the employment support sphere. For this purpose, the federal Government has allocated an additional 33.9 billion roubles, including 29.8 billion roubles for support of individuals officially registered as unemployed in accordance with the established procedure, and 4.15 billion for the measures on the active employment support programmes.
The third goal is state support for the real economy sectors at the regional level aimed at preserving jobs. The following policies are pursued here:
- subsidising loan interest for companies in real economy (implemented in 69 regions); and
- state guarantees of loans taken out by companies operating in real economy sectors (57 regions).
Agriculture support programmes are being pursued in the majority of the regions. These usually include subsidies for regular agricultural projects as well as compensations for the loan interest paid by agricultural producers, farmers, food producers and consumer cooperatives.
The fourth goal is to provide state support to small and medium-sized businesses:
- measures are being taken to create a legal framework for SMEs to buy out the properties they rent (relevant legal acts have been adopted in 80 regions);
- the regions enjoy the right to grant tax privileges to support SMEs (36 regions have cut differentiated rates); and
- nearly all of Russia's constituent entities have announced plans to participate in the federal SME support programme.
The fifth goal is to support regions with unfavourable climate or a geographical location which complicates economic activities - such as Russia's Far East, Arctic areas and Far North. Additional policies will be drafted to prevent an outflow of population from these regions and to boost social insurance there.
The sixth goal is to uphold people's right to free healthcare services. With a shortfall of incomes at the regional compulsory medical insurance funds, it becomes increasingly important for the regions to meet in full their commitments with regard to compulsory medical insurance of the unemployed population.
This year Russia will be providing additional financial support to the compulsory medical insurance system by increasing subsidies to regional medical insurance funds' reserves, which should be used in accordance with a Government-established procedure.
Also, budget allocations will be made to the Federal Compulsory Medical Insurance Fund to support regional funds, if they experience a shortfall of income against the plan, so that they could fulfil the state guarantees of free medical services to all citizens of Russia.
Appendix
Main Measures of the Government of the Russian Federation and the Bank of Russia
to Rehabilitate the Russian Economy in 2009
|
Item № |
Measure |
Amount of additional funding, billion roubles |
|
|
|
|
|
1. |
Enhancement of social protection, social welfare and healthcare guarantees, job preservation and creation |
695.8 |
|
1.1. |
Social protection
|
447.9 |
|
1.1.1. |
Weekly monitoring in the constituent entities of the Russian Federation of labourer layoffs due to the dissolution of organisations or reductions of personnel or regular staff as well as shorter working hours or weeks for the employees of organisations
|
- |
|
1.1.2. |
Establishing consultancy stations, hotlines and pre-dismissal counselling for employees, publication of information booklets and brochures
|
- |
|
1.1.3. |
Establishing a 50% reserve of the quotas for the Russian Federation approved by the Government of the Russian Federation for the purpose of regulating the demand for foreign labour in the Russian Federation, including the provision of priority occupational and qualification groups. Determining the procedure of reducing the demand for foreign workers and the size of quotas approved for the current year and the corresponding adjustment of the distribution of the demand for the current year by priority occupational and qualification groups
|
- |
|
1.1.4. |
Establishing for 2009 the permitted share of foreign workers in retail trade and sports, proportional to the total number of workers used by the business entities referred to above: 0% - retail trade in alcoholic beverages, including beer; retail trade in pharmaceuticals; retail trade in stalls and market places; retail trade other than shops; 25% - sports-related activities |
- |
|
1.1.5. |
Co-financing of regional programmes to relieve tensions in the labour market in the constituent entities of the Russian Federation: - proactive vocational training of labourers against the threat of mass layoffs; - the creation by employers of temporary jobs (public works, temporary employment, internships); - targeted support to citizens, including organisation of their relocation to fill vacancies; - encouraging the development of small businesses and self-employment for unemployed citizens |
43.7 |
|
1.1.6. |
Enlargement of the federal list of public works by constituent entities of the Russian Federation to reflect the regional specifics of the labour market
|
- |
|
1.1.7. |
Changing the system of material support for private enterprise - unified grants for the establishment of small companies and self-employment will be established for all unemployed persons at 12-fold the maximum unemployment benefit
|
- |
|
1.1.8. |
Increasing the size of the unemployment benefit. (In 2009, the minimum unemployment benefit is 850 roubles, and the maximum benefit is 4,900 roubles)
|
29.8 |
|
1.1.9. |
Increasing the allocations to the Pension Fund:
|
|
|
|
to cover the deficit (the insurance part of the labour pension as of April 1, 2009 is to be increased by 17.5%, and by no less than 7.5% as of August 1);
|
315.6 |
|
|
to pay the basic part of the labour pension;
|
12.5 |
|
|
to increase monthly allowances
|
11.5 |
|
1.1.10. |
Improving the pension system. The increase of the nominal annual average labour pension in 2010 over 2009 by 42.8%. Special social pension raises for persons whose pensions are below the pensioner's regional subsistence line. Increase of the monetary evaluation of pension rights acquired as of January 1, 2002, by 10% and enhanced 1% for every year of employment before January 1, 1991 (as of January 1, 2010)
|
- |
|
1.1.11. |
The abrogation of the unified social tax and the introduction of insurance fees. Preservation of insurance rates at the level of the existing tax rate before January 1, 2011. Establishment of a flat scale of imputing insurance contributions - insurance payments will be levied on annual income up to a ceiling of 415,000 roubles. The pension system deficit will be covered in 2010 from the federal budget - in particular, from the National Welfare Fund
|
- |
|
1.1.12. |
Citizens will receive one-time payment of 12,000 roubles out of their maternity capital for current needs in 2009
|
18.0 |
|
1.1.13. |
Incorporating the cost of public sector wages into the list of expenditure protected against cuts
|
- |
|
1.1.14. |
Indexation of government allowances and social benefits financed by the federal budget and the Social Insurance Fund of the Russian Federation with due account of the updated inflation forecast
|
12.7 |
|
1.1.15. |
Additional increase to finance the active employment measures (exercise of delegated powers in the field of promoting employment)
|
4.1 |
|
1.1.16. |
Preservation of employment of persons with limited abilities. Making the preservation of such jobs one of the provisos for government support of backbone and strategic enterprises
|
- |
|
1.1.17. |
Establishment of centres for social rehabilitation of persons released from institutions of confinement in the constituent entities of the Russian Federation
|
- |
|
1.1.18. |
Enhancement of public services available online.
|
- |
|
1.1.19. |
Developing of the system of legal advice for socially unprotected population groups
|
- |
|
1.1.20. |
The adoption of the law on rescheduling individuals' debts, enabling insolvent persons to reschedule their debts
|
- |
|
1.2. |
Support for education
|
0.4 |
|
1.2.1. |
Subsidies in support of education loans
|
0.427 |
|
1.2.2. |
Opportunity for university students paying tuition to be transferred, when in difficulty, to grant-paid tuition funded by the relevant budgets as vacancies arise
|
- |
|
1.2.3. |
Prioritisation of grant-paid tuition in favour of students training for hi-tech, agro-industrial and construction sectors
|
- |
|
1.3. |
Healthcare, physical fitness and sports
|
- |
|
1.3.1. |
The implementation of the Health priority national project
|
- |
|
1.3.2. |
Extra funding of territorial programmes for mandatory health insurance |
From the social support reserve
|
|
1.3.3. |
Stabilising the supply of pharmaceuticals to the public and enhancing the effectiveness of relevant budget expenditure
|
- |
|
1.4. |
Culture
|
- |
|
1.4.1. |
Preservation of privileges for visiting cultural institutions and expansion of the list of social categories entitled to ticket price reductions for such institutions
|
- |
|
1.4.2. |
Preservation of the amount of government support for professional unions - in particular, for grants to non-employed members of such unions; and government support of cultural activists awarded the titles of People's Actor of the USSR and People's Artist of the USSR
|
- |
|
1.5. |
Housing construction and the housing and utilities sector
|
247.5 |
|
1.5.1. |
Fulfilling government obligations to certain categories of citizens
|
140.1 |
|
|
Providing housing for young families
|
- |
|
1.5.2. |
Providing housing for all Second World War veterans registered before March 1, 2005
|
20.8 |
|
1.5.3. |
Acquisition in 2008-2009 of economy-class flats at an advanced stage of construction as well as flats built with funds from citizens by constituent entities of the Russian Federation as part of implementing regional targeted programmes for relocating citizens from hazardous housing with the use of the money of the state corporation Housing and Utilities Reform Fund on condition that such houses are completed within 6 months of the signing of the relevant government contract
|
- |
|
1.5.4. |
Enabling families who possess a government maternity capital certificate to use such money to improve their housing conditions (payment of the principal and interest on credit and loans, including mortgage loans)
|
26.3 |
|
1.5.5. |
Rescheduling of mortgage loans for those who lost their jobs through the 60 billion rouble capitalisation of the Agency for Housing Mortgage Lending in 2008
|
- |
|
1.5.6. |
Contribution to the authorised capital of the Agency for Housing Mortgage Lending of 20 billion roubles and loaning it 40 billion roubles in 2009
|
60.0
|
|
1.5.7. |
Development of a package of anti-crisis measures in the construction industry (improvement of urban development, support of the construction materials industry and individual companies, support for demand) and constant monitoring of the state of the construction industry (including building materials industry) and the housing and utilities sector
|
- |
|
1.5.8. |
Establishing a regulatory basis for housing construction cooperatives and for the development of low-rise building construction, including wooden houses
|
- |
|
1.5.9. |
Promotion of the latest inexpensive energy-saving technology in economy-class housing construction
|
- |
|
1.5.10. |
Simplification of the procedure and cost reduction of the allotment of land plots for social and economy-class housing construction
|
- |
|
1.5.11. |
Provision of the opportunity of mandatory transfer of land plots (or the rights to them) and unfinished construction projects in a judicial procedure from the property developer to the shared ownership of the partners to participatory construction with the developer's duties passing to the householders association, housing construction cooperative or any other specialised consumer cooperative established by them
|
- |
|
1.5.12. |
Increasing the sum of property deductions in computing income tax of individuals who purchase housing valued at between 1 and 2 million roubles
|
- |
|
1.5.13. |
Inclusion in costs of the sums paid by the organisation to compensate for the costs incurred by employees to pay interest on loans to acquire and (or) build housing. Such spending for the purposes of profit taxation is recognised in amounts not exceeding 3% of the labour remuneration costs
|
0.3 |
|
1.5.14. |
Making deductions of the value added tax on building and assembly work for private consumption in the same tax period as the tax is calculated and not after it has been paid into the budget
|
- |
|
1.5.15. |
Enhancement of housing and utilities specialist training
|
- |
|
2. |
Maintenance and enhancement of the industrial and technology potential
|
675.4 |
|
2.1. |
Overall support of industry and work with backbone strategic enterprises
|
302.0 |
|
2.1.1. |
Support of strategic enterprises
|
- |
|
2.1.1.1. |
Support of organisations on the list of strategic organisations. Creating a list of strategic organisations and monitoring of their financial and economic status. Establishment of an Inter-Agency Commission for the monitoring of their financial and economic status |
- |
|
2.1.1.2. |
Assistance to enterprises which are vital for the economies of the constituent entities of the Russian Federation and municipal entities. Review of the list of enterprises of regional importance at the meeting of the Government Commission on Sustained Development of the Russian Economy
|
- |
|
2.1.1.3. |
Qualifying the support of industrial companies by their compliance with the following: - adoption of a programme for financial improvement and increased production efficiency; - drastic cuts to or abolition of premiums and bonuses for top company managers; - complete transparency of financial and economic activities; - unconditional compliance with the Labour Code of the Russian Federation concerning the employers' duties in employees' discharge, and priority preservation of jobs for vulnerable employees - persons with limited abilities and pregnant women; - adjustment of disputes with suppliers and contractors; - adoption of a programme of corporate innovation development, including energy savings, research and development of new products, with plans for their market launch, and the implementation of new world class technology
|
- |
|
2.1.1.4. |
Obliging companies entitled to the anti-crisis government support package to make reports summarising 2009's compliance with the advanced programmes for restructuring and increased effectiveness, and with other obligations to qualify for government support
|
- |
|
2.1.1.5. |
The introduction of general principles of labour remuneration for the employees of government-owned corporations - in particular, the introduction of a wage ceiling (no higher than the market average for commercial companies in the same economic sector) with consideration for the special status and labour conditions of the personnel of government-owned corporations
|
- |
|
2.1.1.6. |
The elaboration of general principles of and approaches to the bonuses for the managerial staff of government-owned corporations on the basis of the evaluation of the results of their activity
|
- |
|
2.1.2. |
Tax incentive measures
|
296.0 |
|
2.1.2.1. |
Beginning January 1, 2010 transfer of some basic assets into depreciation groups with a shorter service life to stimulate the renewal of the corresponding equipment
|
|
|
2.1.2.2. |
Transition to calculating depreciation for profit taxation for the group of basic assets (by depreciation group), the use of non-linear method of depreciation calculation
|
- |
|
2.1.2.3. |
Granting deferments or instalment plans for the payment of federal taxes if the organisation's debt exceeds 10 billion roubles for a term not exceeding five years by decision of the Minister of Finance of the Russian Federation
|
- |
|
2.1.2.4. |
Reducing the rate of the profit tax
|
281.6 |
|
2.1.2.5. |
Introduction of the payment of tax on actual profits for the 4th quarter of 2008
|
- |
|
2.1.2.6. |
Optimisation of the timeframe of paying value-added tax on transactions to which this tax applies
|
- |
|
2.1.2.7. |
Exemption from value-added tax on transactions to import technological equipment of which analogues are not manufactured in the Russian Federation, in accordance with the list approved by the Government of the Russian Federation
|
- |
|
2.1.2.8. |
Tax-payers no longer obliged to transfer value-added tax by separate payment orders if clearing forms of non-cash settlements are used
|
|
|
2.1.2.9. |
Granting the right to deduct value-added tax from advance payments
|
- |
|
2.1.2.10. |
Introduction of a 30% depreciation bonus
|
5.6 |
|
2.1.2.11. |
Reduction of the profit tax rate for the simplified tax plan
|
- |
|
2.1.2.12. |
Increase of the maximum interest on debt obligations recognised as expense
|
8.8 |
|
2.1.2.13. |
Speeding up the refund of VAT
|
- |
|
2.1.3. |
Stimulating demand
|
6.0 |
|
2.1.3.1. |
Regulation of a procedure for the procurement by the subjects of natural monopolies and state-owned corporations, including the introduction of preferences for the suppliers of domestic goods
|
- |
|
2.1.3.2. |
Increased advance funding of government procurement
|
- |
|
2.1.3.3. |
Improvement of the budgeting process to allow for leasing transactions in government procurement
|
- |
|
2.1.3.4. |
Promoting targeted crediting of enterprises against products supplied (factoring)
|
- |
|
2.1.3.5. |
State support of industrial exports through partly reimbursed interest costs paid by Russian exporters on loans obtained in Russian lending institutions
|
6.0 |
|
2.2. |
Support for specific sectors of the economy
|
373.4 |
|
2.2.1. |
Agriculture and fishing
|
63.1 |
|
2.2.1.1. |
Subsidising the interest rate on certain types of investment and short-term credit obtained in 2008-2009 by agro-industrial organisations and enterprises at 100% of the Bank of Russia refinance rate
|
7.0 |
|
2.2.1.2. |
Subsidies for interest rates of up to 80% of the Bank of Russia refinancing rates for loans issued by Russian lending institutions to agricultural enterprises
|
10.0 |
|
2.2.1.3. |
Disbursement in the first quarter of 2009 of federal budget money to increase the authorised capital of Rosselkhozbank in the amount of 45.0 billion roubles to credit agro-industrial enterprises, private farms and individual citizens working household plots, agricultural consumer cooperatives, to make purchase interventions, and to form a system of land mortgage loans
|
45.0
|
|
2.2.1.4. |
Subsidising interest rates for certain types of investment and short-term credit obtained by fisheries organisations for the purpose of modernising and retooling a fishing fleet and fish-processing infrastructure, and material-technical supplies and equipment
|
1.07 |
|
2.2.1.5. |
Amendment to the instruction of the Bank of Russia On the Procedure of Granting by the Bank of Russia Asset-Backed Credits to Credit Organisations regarding refinancing of loans issued to limited liability companies as well as credit for category II loans
|
- |
|
2.2.1.6. |
Development and application of mechanisms aimed at financial support of measures of the National Programme of the Development of Agriculture and Regulation of Agricultural Produce, Raw Materials and Food Markets for 2008-2012
|
- |
|
2.2.1.7. |
Improvement of the certification of agricultural products guaranteeing the most expedient delivery of perishable goods to traders
|
- |
|
2.2.1.8. |
Subsidising fishing companies to partially reimburse payments on leasing contracts for Russian-built fishing vessels and concluded with Russian leasing companies in 2008-2010
|
- |
|
2.2.1.9. |
Separating fish processing and storage, mariculture, and marine and technological equipment as a separate item in the foreign trade goods nomenclature and the introduction of zero customs duty for it as of January 1, 2010
|
- |
|
2.2.2. |
Support of automobile and agricultural machine-building projects
|
90.0 |
|
2.2.2.1. |
Subsidising part of the interest rate of Russian automobile and transport machine-building companies for credit obtained from Russian lending institutions for technological modernisation
|
2.5 |
|
2.2.2.2. |
Subsidising 2/3 of the refinance rate on 3-year consumer loans for the purchase of Russian-made cars by individuals
|
2.0 |
|
2.2.2.3. |
Subsidising the costs incurred by Russian Railways for transporting domestically produced cars to the Far Eastern regions
|
2.0 |
|
2.2.2.4. |
Enabling Rosagroleasing to implement projects to lease domestically produced technology, equipment and transport vehicles to Russian consumers
|
25.0 |
|
2.2.2.5. |
Ensuring purchases of automobiles for federal executive bodies, their territorial agencies and subordinated institutions in a centralised manner
|
12.5 |
|
2.2.2.6. |
Implementing the programme of replenishing the fleet of automobiles used by the constituent entities of the Federation and municipal entities for passenger, medical, police, utility and special vehicles on condition of its co-financing by the constituent entities of the Russian Federation in the amount of 10 billion roubles
|
20.0 |
|
2.2.2.7. |
Federal budget allocations to partly reimburse interest on loans received from Russian lending institutions in 2009 for leasing Russian-manufactured automobiles
|
1.0 |
|
2.2.2.8. |
Assisting in the issue of the bonds in 2009 from Russian automobile enterprises to finance investment projects in the amount of up to 60 billion roubles and a maturity of 5 years on condition of state guarantees as well as possible refinancing of such securities by the Bank of Russia
|
- |
|
2.2.2.9. |
Adjustment of current schedules of redeeming the restructured arrears of automobile manufacturers on taxes and levies paid to the federal budget as well as insurance premiums to off-budget funds (with the view to postponing the deadlines for paying the principal debt from 2009-2015 to 2011-2017, respectively
|
- |
|
2.2.2.10. |
Change of import customs duties on used and new specialised vehicles for a term of 9 months. Introduction of customs duties on used vehicles
|
- |
|
2.2.2.11. |
Increasing the size of advance payments to recipients of federal budget money to 50% of the sum of the government contract concluded to purchase automobiles and road-building machines produced on the territory of the Russian Federation as well as the conclusion of such government contracts without collateral on condition that the technology is purchased directly from the producer
|
- |
|
2.2.2.12. |
The introduction for a term of 9 months of the rate of import customs duties for new and used grain harvester combines and fodder harvester combines in the amount of 15%, but not less than 120 Euros per 1 kW of power
|
- |
|
2.2.2.13. |
Anti-crisis support of the AvtoVAZ open joint-stock company in the form of an interest-free loan from funds earmarked in the 2009 federal budget for the asset contribution of the Russian Federation to the government-owned corporation Russian Technologies
|
25.0 |
|
2.2.2.14. |
Promotion of the issue of bonds of the Sollers open joint-stock company to finance the establishment of a car assembly plant in Primorye, and the allocation of 5 billion roubles for its supply of component parts for 10 years on government guarantees
|
- |
|
2.2.3. |
Insuring financial support for defence industry enterprises
|
70.0 |
|
2.2.3.1. |
Support of individual strategic defence industrial companies and organisations. Establishment of the Inter-Agency Commission for the support of strategic enterprises and organisations of the defence industry working on government defence contracts and having financial difficulties in the current financial market situation
|
- |
|
2.2.3.2. |
Granting to the defence industry enterprises subsidies from the federal budget to redeem part of the cost of interest on loans obtained in 2008-2009, including loans to replenish turnover assets
|
15.0 |
|
2.2.3.3. |
Government support for strategic enterprises of the defence industry through capitalisation. Increase of authorised capital or funds for organisations of the defence industry, and other forms of support
|
52.0 |
|
2.2.3.4. |
Increase of subsidies to defence industry organisations to prevent bankruptcy
|
3.0 |
|
2.2.4. |
Transport sector
|
150.0 |
|
2.2.4.1. |
Reducing the minimum amount of co-financing from the budgets of the constituent entities of the Russian Federation from 20% to 5% of the annual amount of financing for projects
|
- |
|
2.2.4.2. |
Ensuring non-discriminatory access of fuel and aviation companies to the infrastructure of fuelling complexes at airports
|
- |
|
2.2.4.3. |
Granting air carriers deferments on the payment of customs duties for a term of up to six months with regard to imported foreign-made aircraft and parts (including engines) without the need to provide collateral
|
- |
|
2.2.4.4. |
Increasing the size of compensation from the federal budget of part of the cost of leasing Russian-made aircraft obtained by Russian leasing companies under lease contracts to three quarters of the sums subject to compensation
|
- |
|
2.2.4.5. |
State support of air carriers (contribution to State Corporation Russian Technologies)
|
2.0 |
|
2.2.4.6. |
Granting federal budget subsidies:
|
|
|
|
to commercial banks, to compensate for the cost and shortfall in revenues from transactions of crediting air companies not compensated by proceeds from the sale of property offered as collateral for the credit;
|
5.0 |
|
|
to aviation carriers to compensate for shortfall in revenues from the carriage of passengers who have entered into an air carriage contract with an aviation carrier who has had his operating certificate suspended
|
5.0 |
|
2.2.4.7. |
The issue of Russian Railways bonds to finance its investment programme for 2009-2011
|
- |
|
2.2.4.8. |
Compensation (through the increase of authorised capital) of Russian Railways for revenues lost in connection with the downturn in the rate of indexation of railway carriage tariffs for 2009 to 8% instead of the earlier planned 14%
|
50.0 |
|
2.2.4.9. |
Compensation (through the increase of authorised capital) of lost revenue of Russian railways in connection with subsidised fares for students in secondary and higher education
|
2.3 |
|
2.2.4.10. |
Government investment in the development of the transport infrastructure as part of the subprogramme Motorways of the Federal Targeted Programme Modernisation of the Transport System of Russia (2002 - 2010). Increase to 95% of the amount of subsidies from the federal budget to the budgets of the constituent entities of the Russian Federation for building and modernisation of public roads
|
- |
|
2.2.4.11. |
Implementation of the projects of the Investment Fund of the Russian Federation
|
85.7 |
|
2.2.5. |
Forestry complex
|
0.3 |
|
2.2.5.1. |
Protection of domestic timber and paper production in 2009-2010 through adjustment of import customs duties for wood and paper
|
- |
|
2.2.5.2. |
Granting subsidies to the forestry and timbering sector to create stocks of timber, raw materials and fuel in between seasons
|
0.325 |
|
2.2.6. |
Other sectors
|
- |
|
2.2.6.1. |
Review of export customs duties on mineral fertiliser
|
- |
|
2.2.6.2. |
Introducing an oil quality database, including oil in pipeline transit
|
- |
|
2.2.6.3. |
Creation of an amalgamated leasing company to provide supply of mining and transportation equipment for coal mining organisations
|
- |
|
2.2.6.4. |
Separating liquefied hydrocarbons as an item in the foreign trade goods nomenclature and the introduction of zero customs duty as of January 1, 2009
|
- |
|
2.2.6.5. |
Government investments to support hi-tech sectors of the economy (federal targeted programmes) (a total of 168.8 billion roubles)
|
- |
|
2.2.6.6. |
In the metallurgical sphere: support of export and stimulation of internal demand by the construction industry, machine-building and the fuel and energy sectors
|
- |
|
2.2.6.7. |
Monitoring the procedures of customs clearance of imported rolled products to prevent imports on underrated customs value and falsifications in import customs declarations in case of customs clearance on underrated import duties; Supply of places of entry clearing of imported pipes and other rolled products with gauges for radiological and phytosanitary monitoring
|
- |
|
2.2.7. |
Development of commercial competition
|
- |
|
2.2.7.1. |
Enhancement of anti-monopoly trade monitoring to expose and suppress traders' abuse of their dominant position and practice leading to the discrimination of Russian agricultural and other suppliers, and to the unjustified increase in food prices
|
- |
|
2.2.7.2. |
Promotion (with regional and municipal authorities) of competition in trade - in particular, through general development of weekend fairs, and promotion of neighbourhood retail trade, greenmarkets and small retail trade
|
- |
|
3. |
Economic modernisation and innovation
|
- |
|
3.1. |
The establishment of target funds with participation of the Russian Venture Company to promote small innovation business
|
- |
|
3.2. |
Introduction of requirements to elaborate and adopt innovation development programmes, and setting standards for the shift of natural monopolies and major government-owned companies to leading-edge technologies
|
- |
|
3.3. |
Simplifying the launch of new hi-tech production in the market on the basis of voluntary declaration of conformity
|
- |
|
3.4. |
Launching regional pilot projects and drawing a programme to enhance energy savings in government-paid companies and organisations
|
- |
|
3.5. |
Abolition of fines for a shortfall in gas consumption
|
- |
|
3.6. |
Elaboration of measures to promote the development of the most promising import substituting industries and the increase of domestic consumption (housing construction, light industry and food industry, pharmaceutical industry, automotive industry, domestic travel, health services and education)
|
- |
|
3.7. |
Restraining the growth of production (service) tariffs of natural monopolies against preset schedules
|
- |
|
3.8. |
Measures to enhance the internal efficiency of natural monopolies and cost reduction
|
- |
|
3.9. |
Streamlining the procedure of cost assessment for consumed electricity in the wholesale and retail markets, and in fuel supplies to prevent uncontrollable increases in electricity tariffs
|
- |
|
3.10. |
Drafting and implementing the domestic travel development programme
|
- |
|
4. |
Reduction of administrative pressure on business
|
36.2 |
|
4.1. |
Reducing administrative barriers to entrepreneurial activities.
|
- |
|
4.1.1. |
As of July 1, 2009 only a notification, not a permit will be required to start a new business in 13 types of activities, mainly for small and medium-sized businesses
|
- |
|
4.1.2. |
The number of inspections of small companies cannot exceed one in 3 years, with unscheduled inspections possible only by prosecutor ruling |
- |
|
4.1.3. |
Adjustment of government procurement of hi-tech products, and reduction of dumping opportunities in government procurement, which may hinder government contracts (streamlining the legislation on government procurements)
|
- |
|
4.1.4. |
Formalisation of the responsibility of officers of public service of the Russian Federation and constituent entities thereof, law enforcement agencies and municipal services for administrative misdemeanours through disqualification
|
- |
|
4.1.5. |
The reduction and simplification of licensing procedures by ruling and local self-government bodies
|
- |
|
4.1.6. |
Organizations (and individual businesspersons) to be exempt from profit tax (and income tax, respectively), on the funds allocated to small and medium companies as financial support under federal, regional and municipal programs |
- |
|
4.1.7. |
Enlarging the list of entrepreneurial activities for simplified patent-based taxation - in particular, inclusion of private farming in the list of patented activities. Granting the constituent entities of the Russian Federation the right of establishing, with their bylaws, the criteria of private economic activities for their own needs and the acquisition of income
|
- |
|
4.1.8. |
Cutting the list of commodities and services for mandatory certification
|
- |
|
4.1.9. |
Adoption of technical regulations whose priority is stipulated by the Federal Law On Technical Regulation
|
- |
|
4.1.10. |
Extension of the use of electronic technology for the automation and simplification of contacts of legal entities and private individuals with regulatory agencies. Introduction of a system of electronic paper exchange between ruling bodies
|
- |
|
4.1.11. |
Amending the Code of Administrative Misdemeanours of the Russian Federation to change the system of sanctions levied during monitoring of economic entities. In case of violation: a warning (order) to cease the violation must be made, and then only in the case of non-compliance, followed by fines |
- |
|
4.1.12. |
Abolishing the requirement of citizens and organisations to submit copies of documents available in the information systems of governmental agencies in appealing to executive bodies. Binding executive bodies to organise and fulfil inter-agency exchanges
|
- |
|
4.1.13. |
Amending the Code of Administrative Misdemeanours of the Russian Federation to prohibit the drafting of police reports on administrative misdemeanours in the consumer market
|
- |
|
4.1.14. |
Abridgement of the list of commodities, works and services liable to mandatory certification. Extending the field of declaration of conformity for a sizeable reduction in business outlays for mandatory confirmation of compliance of commodities (works and services) with safety regulations
|
- |
|
4.2. |
Government support of small and medium-sized businesses
|
36.2 |
|
4.2.1. |
The Ministry of Economic Development's support of small businesses (an increase by 6.2 billion roubles, to a total of 10.5 billion roubles)
|
6.2 |
|
4.2.2. |
Increase in the financial support of small and medium-sized businesses by the Vnesheconombank of Russia. Development of a mechanism for refinancing the credit portfolios of small and medium-sized businesses formed by Russian lending organisations out of the funds transferred by the Russian Federation to Vnesheconombank; Development of a system of non-bank micro-financial institutions for financial support of micro-companies and new entrepreneurs out of Vnesheconombank assets
|
30.0 |
|
4.2.3. |
Providing small and medium businesses with access to state orders when they are tendered and access when natural monopolies and state-owned corporations procure goods (services)
|
- |
|
4.2.4. |
Streamlining the legislation on the preferential right of small and medium businesses to purchase government and municipal property, with regard to establishing the principle of leaseholder's trustworthiness
|
- |
|
4.2.5. |
The elaboration of the pattern of refinancing loans to small and medium-sized companies made by Russian lending organisations
|
- |
|
4.2.6. |
Establishing the legal basis for micro-financial activities and streamlining the legislation on credit cooperation as part of the financial system of the Russian Federation
|
- |
|
4.2.7. |
The abolition of mandatory use of cash registers by small companies paying the single imputed income tax
|
- |
|
4.2.8. |
Introduction of administrative liability of government and municipal ordering parties for non-compliance with the federal law on mandatory quotas (no less than 20%) for small businesses
|
- |
|
4.2.9. |
Limiting the cost of access to electric utilities for devices with a capacity not exceeding 15 kW to 550 roubles. Availability of instalment payments for small and medium businesses for power grid access of devices with a capacity between 15 kW and 100 kW
|
- |
|
4.2.10. |
Creating conditions for loans to small and medium businesses by commercial banks
|
- |
|
5. |
Enhancement of stability of the national financial system
|
495.0 |
|
5.1. |
Regulation of capital requirements
|
- |
|
5.2. |
Placing of temporarily unused federal budget assets in deposits with commercial banks
|
- |
|
5.3. |
Enhancing capitalisation of commercial banks, banks with government participation and Vnesheconombank (including the use of subordinated credit)
|
495.0 |
|
5.4. |
Expanding the opportunities for investment of pension savings by insured persons who have not availed themselves of the right to choose the investment portfolio (managing company) or a non-government pension fund
|
- |
|
5.5. |
Lifting of restrictions on the size of authorised capital and the value of net assets of business entities to enhance their credit rating, including: revision of the existing restrictions on the payment of the authorised capital through offset of the company's obligations, greater opportunities for the issue of unsupported bonds by a company; revision of existing protection of the rights of lenders when the authorised capital and the net asset value are decreased
|
- |
|
5.6. |
Monitoring the implementation of measures to prevent bankruptcy and the progress of bankruptcy procedures of non-banking financial institutions, providing an opportunity to preserve assets and maximise meeting the demands of creditors, including private individuals
|
- |
|
5.7. |
Participation of the Bank of Russia in stock market trading
|
- |
|
5.8. |
Introduction of the institution of the general meeting of bond holders as a mechanism to consolidate the opinions of bond holders
|
- |
|
5.9. |
Promotion of banking consolidation, formation of major financially reliable banking structures competitive in the international market and capable of long-term project financing
|
- |
|
5.10. |
Dispatching authorised representatives of the Bank of Russia to the lending organisations which are recipients of state support
|
- |
|
5.11. |
The granting of state guarantees of the Russian Federation on loans to strategic defence industry enterprises and enterprises chosen in the procedure established by the Government of the Russian Federation for key production activities and capital investment in the amount of 300 billion roubles
|
- |
|
5.12. |
Rehabilitation of lending institutions through the Deposit Insurance Agency
|
- |
|
5.13. |
The drafting and implementation of measures to normalise the functioning of the insurance system
|
- |
|
6. |
Interaction between the Government and the constituent entities of the Russian Federation in implementing anti-crisis measures
|
300.0 |
|
6.1. |
Increasing allocations to balance the budgets of the constituent entities of the Russian Federation
|
150.0 |
|
6.2. |
Increasing federal budget loans to the budgets of the constituent entities of the Russian Federation, and extending their terms to 3 years
|
150.0 |
|
6.3. |
Enhancing the effectiveness of transfers from the federal budget to the budgets of the constituent entities of the Russian Federation - in particular, through consolidated subsidies to regions
|
- |
|
6.4. |
Temporary (until 2012) increasing the upper limit of the regional and local budget deficit, the state debt of the constituent entities of the Russian Federation and municipal debts by the amount of federal budget loans, and the upper limits of other inter-budgetary transfers from the budget of a constituent entity of the Russian Federation to local budgets
|
- |
|
6.5. |
Reducing demands to the constituent entities of the Russian Federation concerning the level of financing their expenditure commitments co-financed from federal budget subsidies
|
- |
|
6.6. |
Granting the constituent entities of the Russian Federation in whose budgets the imputed part of inter-budgetary transfers from the federal budget (with the exception of grants) has not exceeded 20% of respective revenue of the consolidated budget of the constituent entity of the Russian Federation within two of the three preceding fiscal years the right of depositing budget funds in banks for a term not exceeding six months
|
- |
|
6.7. |
Temporary (until 2011) permission to grant loans (from the budgets of the regions in the extreme north and other areas with a limited term of supply deliveries) to legal entities for purchasing and transporting fuel to the relevant region.
|
- |
|
7. |
International partnership for anti-crisis measures
|
- |
|
7.1. |
Bilateral intergovernmental partnership for anti-crisis measures
|
- |
|
7.2. |
Partnership in implementing anti-crisis measures in international organisations (the G8, G20, APEC, Shanghai Cooperation Organisation and others) |
- |
1) Addition to federal budget allocations confirmed by the Federal Law On the Federal Budget for 2009 and the 2010-2011 Planned Period, No. 204-FZ of November 24, 2008
