The Russian government began work to balance the distribution of risk between business and the state, as the volume of state investments in the economy would have to be limited. This year, the main sources of capital investment should be private funds and bank loans, informs newspaper “Kommersant”, referring to various departments.
The Ministry of Economic Development (Ministry of Economy) said, “After investments in 2022 support budget injections, private funds and bank loans should become the main sources of capital investments in 2023.”
At the same time, the government will reduce the distribution of free “budget loans” to businesses by revising the terms of advance payment for government contracts for 2023. This measure should give organizations access to additional resources described in the Ministry of Finance (MinFin).
“The government has extended special conditions for advance payments for government contracts for 2023: suppliers will be able to receive up to 50% of the contract amount from customers, subject to treasury support. For contracts that are not subject to treasury control, the maximum advance amount will be limited to 30 percent of their value.
Press service of KOBI A.Ş., operator of the National Guarantee System (NGS), on 16 February, reportedthat small and medium-sized business owners were able to obtain loans of more than 292 billion rubles last year. This was done with the help of guarantees from regional guarantee organizations.