PM says coronavirus to cut Russia’s budget revenue significantly

MOSCOW, Apr 9 (PRIME) -- The coronavirus pandemic will result in a significant reduction of Russia’s budget revenue this year, and the government has to calculate all support measures for the economy very carefully, Prime Minister Mikhail Mishustin said late on Wednesday at a meeting with the Liberal Democratic Party of Russia.

“The situation is changing fast, the problems are getting bigger, and we may even have to adjust the list of measures (for support of the economy) that we approved and think about what more we have to do. We are tracking the situation daily, we react immediately, we are working on additional decisions to support the economy,” he said, adding that he counted on support of the deputies.

“We are already gathering them, and I ask you to send suggestions as soon as possible so that we finalize our budget spending. But don’t forget that we will have serious shortfalls in oil and gas and non-oil and gas revenues of Russia’s budget due to the coronavirus this year. This is a serious blow to our budget. So we have to plan everything objectively to solve the task of ensuring all budgets – regional, local, and federal – and help the business.”

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