Almost 900 exporters affected by restrictions will be able to reduce the burden on their budgets

Almost 900 companies will be able to reduce the financial burden on their budgets after the first package of measures to support domestic exporters came into force. This was stated today by Veronika Nikishina, General Director of the Russian Export Center.

“For two years, exporters producing industrial and agricultural products will not be required to return funds received under state support or fined. This will allow exporters to reduce the financial burden on the budgets in the conditions when they are actively rebuilding their supply chains and reformatting the geography of supplies. Manufacturing companies themselves asked about this on the hotline of the Russian Export Center, and we promptly responded to their requests. We are talking about a significant number of manufacturers-exporters. In 2021, REC operated 15 support programs totaling RUB 37 billion. In total, 866 exporting companies received state support from the Russian Export Center last year. The volume of supported exports is $14.8 billion, which is almost twice as much as in 2020. At the same time, among all exporters who received support from us, 42% are small and medium-sized companies,” said the head of the REC (part of VEB.RF).

According to Veronika Nikishina, the main goal of the government now is to take anti-crisis measures for exporters as soon as possible. The Russian Export Center collects proposals from businesses and, together with them, actively rebuilds supply chains. The geography of deliveries is being reformatted. The REC has a “hot line” to collect proposals. The dialogue with the business is actually going on in real time.

“This is the first package of measures, but other measures will follow. We hope that our exporters will adapt to external challenges as soon as possible and will continue to receive export earnings, but in different conditions, in other export markets. These are Latin America, Africa, Asia, Arab countries and CIS countries. Everywhere there is a demand for our products, just now logistics and partnerships are changing. Nevertheless, there is a demand for food, and for industrial goods, and products in the field of engineering, chemistry, petrochemistry, metal products – in general, for the entire range,” concluded the Director General of the REC.