Putin Approves Cabinet’s Plan as Basis for Economic Recovery

President Vladimir Putin has approved the plan prepared by the government as the basis for economic recovery, TASS reported.

“The government on the whole and our authorities have indeed completed a major and a serious job and prepared the groundwork. I believe the presented document can be taken as the basis,” Putin said.

The head of state specified that he continues “a series of meetings on problems of specific industries.”

“We will discuss support measures for the light industry tomorrow. Furthermore, we will discuss key macroeconomic trends and issues related to budget planning in the near future,” Putin noted.

The Russian president said that implementation of the economic recovery plan should begin in July. He instructed the government to continue to work out the final parameters of the economic plan together with business associations. “All this needs to be done in order to begin active implementation of specific steps from the beginning of July,” Putin said. “I ask you by the second half of June to finally decide on the parameters of the action plan.”

Meanwhile, implementation cost of the Russia-wide economic recovery plan in 2020-2021 will total about 5 trillion rubles ($72.7 bln), Prime Minister Mikhail Mishustin said. The plan prepared by the Cabinet contains about 500 specific measures. “Its implementation cost in about two years will total around 5 trillion rubles ($72.7 bln),” Mishustin said.

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