REDISTRIBUTION OF SUBSIDIES FOR SUPPORT OF SMALL AND MEDIUM-SIZED BUSINESS

29th August 2013

Prime Minister Dmitry Medvedev signed a Decree on August 26, 2013 No. 1499-p "On changes in the distribution of subsidies in 2013 for support of small and medium-sized businesses, including peasant (farmer’s) enterprises", according to the website of the Cabinet of Ministers of the Russian Federation

The Order of the Government of the Russian Federation as of March 12, 2013 No 328-p approved the distribution of subsidies granted in 2013 from the federal budget to the budgets of subjects of the Russian Federation for the state support of small and medium-sized businesses, including peasant (farmer’s) enterprises. This distribution of subsidies has been prepared on the basis of the proportion of the number of small and medium-sized businesses registered in the subject of the Russian Federation in the total number of small and medium-sized businesses registered in the Russian Federation.

Following the consideration of competitive bid from subjects of the Russian Federation on co-financing of state support of small and medium-sized businesses the Ministry of Economic Development of Russia prepared amendments to previously adopted distribution of subsidies.

The winners are 647 bids from 82 subjects of the Russian Federation with total amount of more than 18 billion rubles.

The redistribution will result, in particular, in reduction of subsidies for the cities of Moscow and St. Petersburg (by more than 698 million and 644 million rubles, respectively) and increase of subsidies for the Republic of Tatarstan and the Republic of Mordovia (by more than 568 million and 425 million rubles, respectively).

The implementation of the Order will increase the financing of regional programs to support small and medium enterprises, which in its turn will expand the range of small and medium-sized businesses subject to receive financial support.

The signed document was reviewed and approved at the Meeting of the Government of the Russian Federation on August 21, 2013.

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