7 Jul 2010 15:55

Russia provided 216.9 bln rubles in state guarantees in 2 yrs

MOSCOW. July 7 (Interfax) - Russia provided 119 state guarantees to backbone enterprises totaling 216.9 billion rubles as an anti-crisis measure in the two-year period ending June 2, 2010, Deputy Prime Minister and Finance Minister Alexei Kudrin said in the State Duma on Wednesday.

So far this year the state has provided 42 guarantees totaling 55.2 billion rubles.

The state guarantees enabled the enterprises to raise loans totaling 374 billion rubles, he said.

Individual economic sectors received substantial support from the budget. In addition, a host of regions and cities - including the so-called mono-cities where a single major enterprise dominates the economy - the anti-crisis measures made it possible to protect a large number of jobs.

Key projects supporting modernization include those in the areas of space, telecommunications, medical technology and pharmaceuticals.

The state also supports housing construction, which has been allocated an additional 82 billion rubles this year. In addition, 15.6 billion rubles will be allocated to cover the deficit of the Social Insurance Fund and the Pension fund will receive 149 billion rubles for that purpose.

Small and medium enterprise will receive 24 billion rubles in 2010, "the biggest allocation ever," Kudrin said. The Economic Development Ministry will provide 16 billion rubles of the total on a competitive basis in the form of subsidies to subfederal entities, he said.