The government discusses the allocation of 1 trillion rubles to support the economy - Bloomberg

The Russian government plans to sharply build up stimulation measures to support the economy, Bloomberg sources say . According to them, the White House is ready to allocate about 1 trillion rubles ($ 13.5 billion).

Photo: kremlin.ru

The fact that the government discusses the allocation of 1 trillion rubles to support the economy, Bloomberg was told by two sources, familiar with the course of discussion, who specified that it has not yet been completed. Some of the money will go to subsidize wages to employees who do not work due to quarantine measures in Russia, the agency’s interlocutors said.

The plan will be financed through new borrowings, and not money from the reserve fund of national welfare, in which there were about 13 trillion rubles in March, Bloomberg sources say. On Wednesday, the Ministry of Finance tried to hold the first auction for the sale of OFZ since the end of February, but due to the lack of applications at reasonable prices, the auction was declared invalid. Nevertheless, in the second quarter, the Ministry of Finance expects to attract 600 billion rubles, the ministry said today.

Until now, the government has prepared only one anti -crisis plan with a volume of 300 billion rubles. Mikhail Mishustin later stated that the Ministry of Finance reserved for “anti -crisis events” (taking into account the fight against the epidemic) 1.4 trillion rubles. But on April 7, The Bell sources said that the government was not going to allocate live money for direct support for the economy. Vladimir Putin demanded that the government “not to fuse” reserves, said one of them.

Read also “Do not shoot reserves”: the government is not going to allocate live money to support the economy

Bloomberg calls this news a sign that Vladimir Putin is ready to join other world leaders who allocate large sums to support the economy in order to prevent a deep decline, but the concern for low oil prices forces the Kremlin to act with caution.

“The situation is constantly monitoring. Everyone was in a difficult situation. Decisions are made as necessary. Any reserves are just gathering to minimize the consequences of crises, ”said Dmitry Peskov, spokeswoman Dmitry Peskov in the middle of the week to a request to The Bell. - Different formats for providing business support are constantly being discussed. Now it is important to understand the effect of already taken measures. ”

Yesterday, the US Federal Reserve announced new measures to stimulate the national economy by $ 2.3 trillion. This amount is one and a half times higher than the Russian GDP (109 trillion rubles in 2019) and amounts to almost $ 7,000 for each US citizen.

According to the Central Bank, the monthly weekend announced in Russia can lead to a reduction in GDP growth by 1.5–2% this year.

Read also 500,000 dismissed - only in Moscow: what will the month of ladder of the economy lead to

Quarantine business: how to save your business in a crisis

Next week, Bellclub will hold a new online meeting dedicated to new economic reality. This time we will talk with entrepreneurs about how to survive quarantine and economic crisis.

Our guests:

• Anastasia Tatulova , founder of the Anderson family cafe network
• Boris Dyakonov , co -founder of the bank for entrepreneurs "Point" and the Accounting Service "Button"
• Mikhail Tokovinin , founder of AmoCRM
• Alexey Fedorov , managing partner of the 220 Volt group of companies, head of the CCP electronic trading committee

Time: April 14 at 19:00. Registration - by link .