New set of measures to support business

Speaking at a meeting with the Government of the RF on April 15, the President of Russia offered a number of new measures to support business in conditions of the coronavirus epidemic.

The Government of the RF and the Central Bank of the RF are instructed to develop and implement of the following measures:

• Companies trading with non-food items should be included in the list of the most affected sectors (more than 600 000 operating specialized retailing companies - according toGlobas System.
• Small and medium-sized enterprises should be provided with a free assistance from the state for the payment of salaries in April-May in the amount of 12 100 rubles per employee. The condition for receiving of such support should be the retaining of at least 90% of the authorized staff size as of April 1.
• The State development corporation VEB.RF should provide guarantees of at least 75% of the volume of loans for the payment of salaries.
• Soft loans should be offered to systemically important enterprises for working capital financing. Loan rates should be subsidized by the state in the amount of the Central Bank's key rate. 50% of the loan should be secured by state guarantees of the Ministry of Finance of the RF.
• The List of systemically important enterprises should be completed. The choice of companies for inclusion in the List should be based on intelligible, clear and objective criteria, as a result of which the List should include organizations that are extremely important for the national economy as a whole.
• Aviation companies should be provided with support in the amount of more than 23 billion rubles (more than 1300 operating companies - according to Globas System.
• Separate support measures should be developed for each of the basic main sectors of the economy. To ensure the sustainability and balance of regional budgets, it should be provided the allocation of 200 billion rubles.