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Government is developing anti-crisis plan for Russia

Government is developing anti-crisis plan for Russia
Photo: press service of the Russian government

The collapse of the ruble and the coronavirus pandemic forced the Russian government to tackle the anti-crisis plan. In addition to standard proposals for granting subsidies to regions, tax holidays for businesses and supporting state corporations, there are measures for people.

According to information "Vedomosti”, For several days in a row, the Russian government prepared a new anti-crisis plan that will help support the country's economy. The final version of the document is expected to be adopted this week.

The total cost of supporting the Russian economy has not yet been disclosed. However, according to the publication, the government provides for the creation of an anti-crisis fund of 300 billion rubles. They plan to allocate money for it in the budget after optimizing the costs, but this is not the ultimate cost.

Details of the document have not yet been announced, but there are provisions in the panel that will help support the business, especially tourism and air travel. In addition, regional budgets should receive additional funds.

Also, officials are considering compensation for lost income of people who are in quarantine. The truth is not yet clear whether the "quarantine" sick leave will be compensated by employers.

Analysts recorded a sharp jump last week financial stress index in Russia. According to the Analytical Credit Rating Agency, a similar level has already been observed in 2008, 2009 and in 2014. 

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