OREANDA-NEWS Denis Manturov, the Minister of Industry and Trade of the Russian Federation, said that the cost of cars in Russia has increased by 25-30 percent since the beginning of the year. He claimed this in an interview for NTV during the St. Petersburg International Economic Forum (SPIEF).

Manturov clarified: "There are many reasons. In February and March, prices rose, the course changed, companies were purchasing components for cars. Naturally, today the costs incurred by enterprises somehow need to be compensated".

Earlier, Manturov announced the allocation of 20.7 billion rubles to support demand for cars. According to the head of the Ministry of Industry and Trade, 10.2 billion rubles will be allocated for the resumption of car loans, 4.9 billion - for preferential leasing, 2.6 billion - for discounts on electric transport, another 3.3 billion rubles will be directed to gas-engine equipment. The official added: "This is primarily important for individuals in terms of the availability of loans and for small and medium-sized businesses, meaning the leasing of equipment running on gas motor fuel".

President Putin set the task to update the strategy for the development of the automotive industry in 2 months in order to finally decide on support measures, in particular, for the next three years. This is primarily important for individuals in terms of the availability of loans and for small and medium-sized businesses.