Free grants to businesses in the amount of one minimum wage for the salaries of employees due to the November lockdown cost the budget 30.5 billion rubles. The amount of concluded concessional loans at 3% was at the level of 88.7 billion rubles. This was reported to Izvestia at the Ministry of Economic Development. Thus, direct and indirect business support amounted to almost 120 billion rubles.
The latest package of federal measures to support the most affected industries was announced in October 2021 before the introduction of non-working days (October 30 – November 7, 2021). Firstly, preferential bank lending was resumed at 3% per annum, subject to the retention of at least 90% of the staff (payroll program 3.0). Secondly, grants were paid from the budget to businesses in the amount of one minimum wage for each employee. With the help of grants, it was supposed to ensure the calculation of salaries, and loans could be used in case of a shortage of funds to pay taxes, rent and utility bills.
The ministry assured that at the moment the introduction of a nationwide lockdown is not considered.
“Additional support measures for businesses will be discussed based on the development of the sanitary and epidemiological situation in the regions and the introduction of certain elements of restrictions,” the Ministry of Economy said.
According to the ministry’s estimates, the revenue situation in the SME segment has stabilized, and business activity is gradually recovering.
Read in full in the exclusive Izvestia article:
Measures in moderation: business was helped by 120 billion rubles due to the lockdown in November
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
