Official: Moscow business support costs 45 bln rbl

MOSCOW, Apr 16 (PRIME) -- The direct support measures for the Moscow business will cost the local budget 45 billion rubles, Deputy Mayor for Economic and Land and Property Relations Vladimir Yefimov  told reporters on Thursday.

"Direct business support measures which have already been adopted in the framework of three packages cost about 45 billion rubles. They include tax deferrals and direct budget payments to the affected companies," Yefimov said.

Moscow will additionally allocate 20–30 billion rubles to subsidize interest rates for small and medium-sized business.

"A decision to subsidize interest rates on loans to small and medium-sized business was made yesterday as part of the third package. We understand that this sector of the economy will suffer most in this situation and will allocate additional 20–30 billion rubles to these measures," Yefimov said.

(73.7145 – U.S. $1)

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