20 May 2020 15:12

Russia's Federation Council appraises new economic support measures at 800 bln rubles

MOSCOW. May 20 (Interfax) - The third package of government support measures for the Russian economy will cost approximately 800 billion rubles, Russian Federation Council Deputy Speaker Nikolai Zhuravlyov said.

"The approximate total cost of the third package is 800 billion rubles," Zhuravlyov said at a Federation Council meeting on Wednesday.

The third package took effect on May 11 to stipulate tax exemptions for small and medium-sized businesses in the second quarter of this year, along with tax refunds for the self-employed, tax loans and deductions for the self-employed and individual entrepreneurs, and an unprecedented program, which writes off loans and interest for employers that do not dismiss their workers, he said.