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Putin announced new business support measures

Putin announced new business support measures
Photo by: kremlin.ru

Direct financial assistance will be provided to small and medium-sized enterprises. This was announced at a meeting with the government by Russian President Vladimir Putin. Among the new support measures, soft loans for working capital replenishment will appear.

According to the head of state, companies that have retained at least 90% of their employees will receive salary payments from the budget. In turn, each of the employees of the affected companies will be able to expect payment in the amount of one minimum wage.

To prevent a surge in unemployment, the program of preferential loans for the payment of salaries will be expanded. Now they will be able to receive medium and large companies. The authorities also intend to subsidize a 6% interest rate on loans for working capital to system-forming companies, the criteria of which will be expanded. Half of such loans are guaranteed by budget funds.

 

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