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11.04.2014 Subsidies to small and medium sized business in the regions amount to more than 18 billion rubles

Subsidies to small and medium sized business in the regions amount to more than 18 billion rubles

Over 18.1 billion rubles will be allocated from the federal budget of Russia in 2014 to subsidize small and medium-sized business. The decree was signed by Russian Prime Minister Dmitry MEDVEDEV.

Budget funds will be transferred to the regions for to subsidizing small and medium-sized enterprises, including peasant and farm households.

 “This decision will help to increase capitalization of regional programs to support small and medium-sized business, which in turn will allow expanding the range of small and medium-sized enterprises that will receive financial support”, - the press service of the Russian government says.

Amounts for the regions of Russia will differ by several times. The biggest sum will be allocated to Moscow (1.458 billion rubles) and St. Petersburg (1.02 billion rubles), also Krasnodar territory (889 million rubles) and Moscow region (852 million rubles.). The smallest amount - Nenets Autonomous Area (5.16 million rubles) and Chukotka Autonomous Area (5.82 million rubles).

In order to determine the amount to be allocated to each region, the number of small and medium-sized enterprises registered in this region and their share in the total number of small entrepreneurs in Russia was accounted.

Another order of Dmitry MEDVEDEV allocates 1.4 billion rubles from the federal budget for the creation and maintenance of infrastructure for small and medium-sized business, including construction, reconstruction and material equipment of business incubators.

More information available at the Federal Web Portal for Small and Medium Sized Enterprises.