PM says govt to prolong some business support tools for 2023

MOSCOW, Oct 31 (PRIME) -- The Russian government will prolong some business support measures in conditions of Western sanctions to 2023, while the economy is gradually adapting to the challenges, Prime Minister Mikhail Mishustin told his deputies on Monday.

“The government continues to support the Russian business actively in conditions of the unfriendly states’ sanctions. Earlier, it approved a number of decisions, which formed a primary action plan,” it said.

“The measures are effective, the economy is adapting smoothly to the existing challenges. To maintain the positive effect, we have prolonged some of the measures for the entire 2023.”

Joint stock companies and limited liability companies will avoid liquidation if their assets fall below charter capital, while the weighted average price for public joint stock companies’ shares are be set within a month, if they are reorganized.

Mishustin also ordered Deputy Prime Minister Marat Khusnullin to prepare a draft ruling to increase urban development transfers to the regional budgets.

“We have to make conditions of such support equal for everyone, to raise the lowest threshold of a subsidy so that Russia’s regions receive at least 100 million rubles for implementation of the programs,” he said.

Mishustin also said that the Russian government is paying special attention to restoration of the Crimean bridge, including transportation of passengers and cargoes and transport searching measures.

The government should also take action to reduce the queue time for cargo transport to intensify cargo deliveries to Crimea, he added.

(61.5343 rubles – U.S. $1)

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