Banks will be connected to state subsidies of an interest rate

09/11/18 20:45

Banks will be connected to state subsidies of an interest rate

It is supposed that the sum of state support will be set off by bank, but on account of taxes payment

Tiraspol, 11 September. /Novosti Pridnestrovya/.  The state can change approach to subsidizing of interest rates of the credits for industrialists. It is supposed that the sum of state support will be set off by bank, but on account of taxes payment. As the Government press service reports, executive power will introduce the relevant bill in the Supreme Council.

We will remind that the Government, banks and the Union of industrialists, landowners and businessmen have developed the mechanism of interest rate state subsidizing for the credits for the enterprises of the real sector of economy this year.

It assumes compensation to industrialists of 7% of credit cost for fixed assets. 7 million rubles are reserved in the budget of this year for this purpose. At the same time the owner has to enclose his finance – not less than 10% of project cost. Subsidizing of a rate will allow the enterprises to cut expenses on payment of an interest rate and to release cash for implementation of the production projects. The state, in return, will receive additional jobs, tax assignments and inflow of foreign currency. The applications for such soft loans have been submitted by 18 enterprises from which only 3 have received subsidizing of the projects.

As the Prime Minister Alexander Martynov told at today's meeting in the Government with representatives of the ministries, banks and public organizations of businessmen has reported, the specified mechanism of interest rates subsidizing can be changed.

"We plan adding into the income tax law that the support sum automatically became engrossed in reading of bank on account of income tax payment. This norm will work automatically, on start we will be able to lend more enterprises because starting opportunities will be higher, we shouldn't transfer all sum into accounts of banks at once. It is an important point", - the Prime Minister has told.

He has also noted that in the conditions of deficiency of external investments the power has to try to direct liquidity of the Pridnestrovian banks to crediting of the real economy sector.

"Recovery growth of economy, which we observe now, has the limits. We understand that we won't move forward without available credit or we will move too slow", – the Prime Minister has explained.

Banks, in turn, are motivated to credit economics, the chairman of the Pridnestrovian Republican Bank (PRB) Vladislav Tidva assures. The corporate portfolio for crediting of legal entities makes about 180 million dollars, and for physical – about 18 million, he has reported.

"The central bank supports the program of interest rates subsidizing. We understand importance of crediting of the real economy sector. And we understand that investments into fixed capital is what will be growth engine", - the head of the Central Bank has told.

Subsidizing of a part of interest rates is one more measure of the state support of the real sector of economy. In July the first contract on tax preferences within the law "About the state support of investments" has been signed. Earlier subsidizing of milk purchase prices has begun. Last year tax burden for industrial enterprises was reduced depending on branch by 10-40%.

 

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