The state Duma adopted in the first reading the draft laws on the sale of Sberbank

an Extraordinary transaction, which will Finance new social spending (expanding the program netcapital and benefits for children from 3 to 7 years) from the national welfare Fund. The government will acquire a controlling stake in Sberbank at the expense of the Fund, and the Bank of Russia is all profit, except for the 700 billion, will list four times in the budget.

Photo: iStock the Bank of Russia assessed the impact of coronavirus on the economy

it is Assumed that the Treasury received 500 billion roubles in 2020, 650 billion in 2021 and 400 billion in 2022, the remainder in 2023. The final transaction price depends on the time of its Commission: it is calculated as the weighted average of the market value of the shares of the Bank for the last 6 months.

the money must be transferred before June 1, however, the Bank of Russia called for the postponement of the deadline of 1 December, given the volatility of the financial year. The Ministry of Finance said that from the point of view of opportunities to Finance expenditures – not critical, at what point during the year it will be done, as long as the profit was transferred to the budget before the end of the year.