Russian Government Allocates $1.4bn to Support 56 Regions

Russian regions will be provided with 100 bln rubles ($1.4 bln) in assistance allocated in order to compensate for the declining budget revenues, according to a decree signed by Prime Minister Mikhail Mishustin, TASS reported.

“The funds allocated in line with the Russian president’s instructions will be provided to 56 federal subjects where tax and non-tax revenues as of May 1, 2020 were lower than those in the previous two years,” the government’s press service said.

The payment for each federal region will depend on the volume of priority expenses of regional budgets.

This measure will help balance consolidated budgets in federal subjects amid economic restrictions related to the coronavirus pandemic.

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