State-subsidized car loan program stalled

February 18. FINMARKET.RU – The Russian Automobile Dealers Association announced that banks have stopped issuing car loans under government-subsidized programs, “since the limit of previously allocated funds is practically exhausted,” Kommersant reports. The spending of the limits allocated by the Ministry of Industry and Trade was confirmed by Kommersant in a number of large banks. Now almost 8.9 billion rubles have been allocated from the budget for the program, officials say, although in previous years such amounts of funding were spent more slowly.

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