In the Russian Finance Ministry considers the possibility to reduce the expenditures of the federal budget for the state program for the development of industry and increase its competitiveness in the years 2016-2020

15 February 2014, Saturday
In the Russian Finance Ministry considers the possibility to reduce the expenditures of the federal budget for the state program for the development of industry and increase its competitiveness in the years 2016-2020 to 4.95 billion rubles (up to 646.37 billion rubles).
In 2016, funding is cut from the previously approved parameters by 5 percent annually in the years 2017-2020 by 10 percent.

Recall that the volume of industrial production in Russia in 2013 remained at the level of 2012 . The most significant decline occurred in the steel industry (3 percent) . Also manufacture timber industry declined by 3 per cent , mainly due to the pulp and paper segment.
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