Russian authorities will allocate 100 billion rubles to support the economy

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Russian Prime Minister Mishustin: The government will allocate 100 billion rubles to support the economy

Russian authorities will allocate 100 billion rubles to stabilize the economy, Prime Minister Mikhail Mishustin said. His words were reported by RIA Novosti.

“The Government is taking decisions to support businesses and our citizens in the face of external sanctions. President [Владимир Путин] He expressed the need to help the industries to overcome the difficulties. “In the meeting of the Chairmanship of the Government Commission for Enhancing the Stability of the Economy, we discussed in detail the areas that need additional attention,” the Prime Minister said.

The aviation industry will receive about 15 billion rubles to expand the production of MS-21 aircraft and 25 billion rubles to support the air traffic management system. Authorities will also allocate 15 billion rubles for a program of preferential leasing of marine vessels. The Industrial Development Fund (IDF) will receive about 8 billion rubles, the government will allocate 4 billion rubles for small and medium tonnage chemical programs.

In addition, the authorities plan to provide additional financing for the development of equipment for LNG production – 2 billion rubles have been provided for this. About 5.5 billion will be allocated in the Kaliningrad region to support investment projects and create new jobs.

Earlier, Finance Minister Anton Siluanov admitted that the distribution of the Russian budget for the next three years will be the most difficult in his professional career. Also on September 8, Mikhail Mishustin announced that oil and gas revenues in the Russian budget had increased by almost 50 percent since the imposition of Western sanctions.

However, in August, the amount of additional income from oil and gas, calculated as the difference between the actual and basic income levels, amounted to 85.9 billion rubles, which did not justify the expectations of the Russian Ministry of Finance. In early August, the department estimated additional income at the level of 359.5 billion rubles. The actual amount of excess over the baseline was 273.6 billion rubles less.

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