UPDATE: Ministry to allot 38 bln rbl to support car industry in 2021

(Changes last paragraph as ministry now says railway machinery output can fall 6% to 500 billion rubles instead of rise 1.4% to 540 billion rubles)

MOSCOW, Jun 10 (PRIME) -- Russia’s Industry and Trade Ministry plans to allocate 38 billion rubles to support the car industry in 2021, the ministry said in a report released on Thursday.

The program will include financing of cut-rate lending for car purchases, of leasing and factoring, and of encouraging demand for gas-engine equipment.

The ministry projects Russia’s car output to rise 5% to 1.49 million units in 2021. Car sales are to grow 4.8% to 1.76 million units.

The ministry also said that the Russian aircraft industry will produce 22 civil airplanes in 2021 after 12 units produced in 2020.

Ship production is projected to grow 7.7% on the year to 545.4 billion rubles in 2021, the ministry said. Investment in shipbuilding support is planned at 21.88 billion rubles this year.

Railway machinery production can decrease 6% on the year to 500 billion rubles, the ministry said in the report. Investment is planned at 600 million rubles in 2021.

(72.0829 – U.S. $1)

End