Putin instructed the Cabinet to support the budgets of the regions in the fight against coronavirus

“I Understand that deferred taxes and other measures to support small and medium-sized businesses and individual entrepreneurs will contribute to regional budgets. They may have lost income” he said Monday at a meeting with presidential Plenipotentiary envoys to the Federal districts.

Photo: Sergei Nikolayev/WG Putin instructed to conduct a complete inventory of resources to fight COVID-19

Regions are recommended not to cut the current budget expenditures. “On the contrary, the task now is to as quickly as possible, without interruption and fully Fund all the planned programmes and contracts. These funds are urgently needed now the economy. They need to work on maintaining people’s employment and their income, the stability of enterprises”, – stressed the head of state.

“of Course, the regional budgets should receive the necessary additional support,” – said Vladimir Putin. In his view, the existing instruments – Treasury loans to cover the “cash gaps” is not enough.

“I Instruct the government, the Ministry of Finance to form a complex system of steps and provide the necessary funding to ensure the sustainability of regional budgets”, – said the head of state.

He asked the envoys to help the Federal center to objectively assess the needs on the ground “and, of course, to check the targeted and efficient spending of these funds”.