The Government of the Russian Federation has been instructed to carry out various measures of support for enterprises in the sectors of the Russian economy included in the list of the worst hit industries due to the deteriorating situation caused by the COVID-19 pandemic.
The Government has also been instructed to update the criteria to designate enterprises and organisations as backbone entities, to adjust the lists of such enterprises and organisations using the new criteria and to compensate from the federal budget interest rates on loans issued to backbone companies in order to replenish their working capital.
In addition, instructions have been issued to provide additional financial support to the regional budgets in order to finance measures to support people and economic entities due to the deteriorating situation amid the spreading COVID-19 pandemic.
The instructions also envisage allocating funds from the federal budget to provide financial support to airlines in 2020 and to grant an income tax exemption on payments made due to the current special working conditions and an additional workload to medical personnel working with COVID-19 patients, and to those at risk of contracting the coronavirus.
The Government has also been instructed to develop plans of support measures for the basic sectors of the Russian economy amid the COVID-19 pandemic with an emphasis on the import substitution programmes in the industry.