The Russian government will allocate an additional 100 billion rubles to the regions to compensate their expenses associated with the measures implemented to combat COVID-19, finmarket reports.
“The epidemic has put regional finances in a rather difficult position, we understand this. This is not only about increased costs for the healthcare system, direct assistance to people, enterprises, but also about lost revenues that are not received by the budgets of the constituent entities of the Federation, including in connection with federal decisions on tax breaks and deferrals,” the President of Russia, Vladimir Putin, said.
It is noted that Putin instructed the government to provide additional financial assistance to the regions and allocate another 100 billion rubles in plus to the 200 billion that were already announced, to offset the costs of the regions associated with the implementation of the measures to combat the epidemic. The president also promised that another 100 billion rubles will be allocated to update the regional road network.