Russia to Spend $6.2bn on New Economic Measures

The national plan of Russian economy restoration outlines new measures of support to the tune of 430 billion rubles ($6.2 bln), including 133 bln rubles ($1.9 bln) in 2020 and 300 bln rubles ($4.4 bln) in 2021, Head of the Russian Accounts Chamber Alexei Kudrin said in an interview with TASS.

According to the government, the national plan is worth 5 trln rubles ($72.5 bln), including measures declared in three packages. “In 2020 some 2.8 trln rubles ($40.6 bln) will be earmarked, including 133 bln ($1.9 bln) on events, which were not included in previous packages and 2.4 trln rubles ($34.8 bln) for 2021, including nearly 300 bln rubles ($4.4 bln) on new measures,” Kudrin said.

The national plan adds 430 bln rubles of support for two years, he said.

“I believe that [this plan] should outline stronger changes in economy because 2021 should be used for changing the federal budget’s structure, significant support for small and medium-sized businesses and reducing regulatory burden on enterprises,” Kudrin added.

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