PM relieves Russian regions from debt payments to budget in 2020

MOSCOW, May 6 (PRIME) -- Prime Minister Mikhail Mishustin has signed a ruling to relieve the Russian regions of payments for budget loans in 2020 due to the coronavirus pandemic, according to a ruling published on the government’s website on Tuesday.

“In 2020, the regions are completely relieved from debt redemption. In 2021–2024, they will pay 5% of their debts per year, and in 2025–2029 they will redeem the remaining debt in equal installments with a possibility of an early redemption,” the ruling’s note read.

The regions should spend the money to fight the coronavirus and on compensation of shortfalls in tax and non-tax revenues.

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