Russian govt mulls debt restructuring for firms hurt by virus

MOSCOW, Mar 24 (PRIME) -- The Russian government is considering not only a delay, but also restructuring of debts of companies hurt by the spread of coronavirus, including taxes and loans to commercial banks, Deputy Finance Minister Andrei Ivanov said at a meeting at the Federation Council, parliament’s upper house, on Tuesday.

“We are working together with the central bank… This is about restructuring… This is about partially subsidized delayed payments… We suggest restructuring all kinds of taxes,” he said.

He added that the decisions should be well-balanced and state funds should be distributed evenly between the businesses and the social sphere.

“Each decision costs several hundred billion rubles, the figures are significant for both the federal and the regional budgets… We will explain the procedure of delays or restructuring of tax payments for businesses soon,” he said.

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