15 Apr 2020 17:22

Putin suggests granting SMEs from affected sectors direct financial aid for salary payments in April-May

NOVO-OGARYOVO. April 15 (Interfax) - Russian President Vladimir Putin has suggested granting small and medium-sized enterprises from sectors affected by the coronavirus non-repayable financial aid from the state for urgent needs such as salary payments in April and May.

"I ask that the following decisions, agreed upon with all agencies, be included in the program of support to the economy and businesses. Number one: I suggest granting small and medium-sized companies from affected sectors, and I have stressed, in addition to the measures of support already taken, direct, non-repayable financial aid from the state," Putin said during a meeting with members of the government on Wednesday.

He said that "enterprises will be able to allocate these funds for solving the current, most pressing tasks, including payment of salaries, maintaining the level of remuneration of their employees' labor in April and May."

"The amount of support for a particular company will be calculated taking into account the total number of its employees as of April 1 of this year, based on a sum of 12,130 rubles per employee per month," Putin said.

He said that "applying for this aid must be simple and convenient for businesses, with the opportunity to apply remotely without any queuing or rushing."

"Therefore, I ask the government to stipulate the possibility of sending such an application within one month, starting from May 1," Putin said.

"The only essential condition and requirement for the company is maximum maintenance of employment at a level of no less than 90% of the number of staff as of April 1," he said.

"If this requirement is fulfilled in actual practice, and the government is in a position to verify this, then financial support from the state for April will be received by the state account starting from May 18. Correspondingly, funds for May will arrive in June," Putin said.