Source: State to provide funding to AvtoVAZ in various ways

MOSCOW, Feb 18 (PRIME) -- Top Russian car producer AvtoVAZ will receive state funding and ways of allocating the funds are being discussed, a high official told reporters on Thursday.

“Support to AvtoVAZ will be provided in different ways,” he said.

The net loss of AvtoVAZ nearly tripled to 73.851 billion rubles in 2015.

In January, Prime Minister Dmitry Medvedev signed a ruling to provide state support of about 50 billion rubles to the Russian car industry in 2016.

(77.8503 rubles – U.S. $1)

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