Russian government to prepare economic recovery plan by June 1

Thus, the Russian government, together with senior officials of the Russian regions should develop and present a national action plan that will ensure the restoration of employment and incomes, economic growth and long-term structural changes in the economy. The deadline is June 1, 2020, the report said.

At a meeting with regional leaders on April 28, Putin announced the decision to extend the period of non-working days in the country until May 11. Then he announced the need to begin preparations for a return to normal mode and instructed to prepare recommendations in order to gradually remove restrictive measures starting from May 12.

Russia’s chief sanitary doctor Anna Popova at a meeting with Putin on May 6 said that the department has prepared recommendations for lifting restrictive measures, which will take place in three stages.

During the pandemic, the government has already adopted two packages of measures to support the population and business. Thus, small and medium-sized businesses from the most affected sectors can rely, in particular, on a six-month deferral of rental and tax payments, excluding VAT, and also receive 12,130 rubles per month ($164.2) per employee for paying salaries, maintaining at least 90% of employees. This mechanism started working on May 1.

Russian citizens can receive a deferral on loans and borrowings for six months if their income drops by at least 30%. Those who lost their jobs after March 1 and applied to the employment service in April - June will receive unemployment benefits in the maximum amount of 12,130 rubles - minimum wage.