State to subsidize just over half of SME salaries in affected sectors for two months - minister
MOSCOW. April 16 (Interfax) - The state will subsidize salaries payable by small and medium businesses in affected sectors in the amount of one minimum wage for the next two months, Maxim Reshetnikov, the Russian economic development minister, said at a Cabinet meeting.
"Payments amounting to one minimum wage are by no mean a company's whole salary pool, we realize that. According to our initial estimates, it was about one-third of those expenses. But we've just looked at the level of wages at SMEs in the affected sectors and the state will be subsidizing just over half of those salaries for these two months," he said.