16 Mar 2020 17:06

Govt to create financial reserve to cover measures for fighting Covid-19 and financial market volatility - Belousov

MOSCOW. March 16 (Interfax) - The Russian government is planning to create a financial reserve, to which it will direct 300 billion rubles, to cover measures it has envisaged in connection with the coronavirus situation and that on the financial markets, First Deputy Prime Minister Andrei Belousov said on Monday.

"This is formation of a necessary financial reserve to cover the measures we have now envisaged. We assume that, for now, a sum of 300 billion rubles may be enough. Plus a certain guarantee fund. Needless to say, if necessary, the budget is well placed for going beyond this amount," Belousov said during the first meeting of the advisory council for the fight against coronavirus.