The financial decline in Russia as a result of Covid-19-related disaster will probably be round 4 p.c this 12 months, which is lower than in different nations, Russian President Vladimir Putin stated on the Russia Calling funding discussion board.
“Recession is noticed not solely in Russia, however all through the world, in your entire world economic system. As for the Russian economic system, the decline is decrease than in different economies, together with the so-called developed economies,” he stated. Subsequent 12 months’s deficit is seen at four.2 p.c, with an financial enchancment anticipated in 2022.
Putin stated help of small and medium-sized companies damage by the coronavirus disaster is a precedence for the Russian authorities. He pointed to a spread of help measures taken by the authorities, corresponding to tax breaks, grants, preferential loans to avoid wasting jobs, and others.
The president advised extending the moratorium on scheduled state inspections of small companies for 2021. “Thus, we cut back each the executive and tax burden on tens of 1000’s of firms using tens of millions of our residents, and help jobs and folks’s incomes,” he stated.
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He added that the Russian authorities will take additional steps to help small and medium-sized companies.
Putin famous that regardless of all of the challenges this 12 months Russia has managed “to take care of the macroeconomic stability, stop inflation and stabilize the nation’s monetary markets.”
The disaster hasn’t affected funding in nationwide tasks, he stated.
The Russian president urged the implementation of a typical plan on nationwide targets, saying that he was “somewhat optimistic in regards to the improvement of the Russian economic system.”
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