Ten new measures Russia is taking in response to COVID-19

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Russian President Putin just addressed the nation regarding new economic measures being taken by the government in response to the ongoing spread of COVID-19. In his address, he made the following declarations:

  1. The national referendum on amendments to the Russian Constitution scheduled for April 22 has been postponed. A new date has not yet been announced. The amendments to the Constitution, if approved by voters, would have, among other things, allowed Putin to remain president until 2036. Without the amendments, Putin will only be allowed to finish his current term, which expires in 2024.
  2. Next week has been declared a paid non-work week (except for grocery, transport, medical, banking, and government workers) from March 28 – April 5.
  3. All government entitlements and benefits are automatically extended by six months.
  4. In the next three months, all families receiving the federal subsidy for multi-child families will receive an additional $63 per child under the age of three. Normally, Russians can opt to accept a one-time payment of $5,900 at the time of the first child’s birth (and an additional $1,900 if a second child is born in the same family) instead of accepting future government subsidies for families.
  5. Sick pay will be issued so that taking sick days at least does not make any worker’s income fall below the federal minimum wage. Normally the amount paid for sick days depends on how long a worker is employed at a particular company and may result in his or her income for that month falling below the federal minimum.
  6. All payments on consumer loans and mortgages are on hold. The president did not specify for how long.
  7. Small and medium businesses are being granted a deferral on the payment of all taxes except VAT.
  8. There is now a six-month moratorium on businesses filing for bankruptcy.
  9. Insurance premiums for small and medium businesses have been reduced by half.
  10. A new 13% tax will be levied on income earned in Russia that is transferred to overseas bank accounts.

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Louis Marinelli

American expatriate living in Russia since 2016.
Американский экспатриант, живущий в России с 2016-го года. Подпиши́тесь в группу Moved To Russia ВКонтакте

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