Russian Government acts to mitigate the impact of sanctions
(VOVWORLD) - The Russian Government has approved measures to mitigate the impact of accumulating sanctions, said Prime Minister Mikhail Mishustin at a cabinet meeting on Wednesday.
 Russian Prime Minister Mikhail Mishustin (Photo: Reuters) |
The measures include cancelling income tax on bank deposits and reducing the number of car owners who must pay an increased transportation tax. He said the Government will earmark an additional 180 million USD for short-term loans at preferential rates for agricultural producers. An additional 18 million USD will be allocated to partially compensate losses sustained by Russian bread and flour producers.
The Prime Minister also outlined a package of measures to help the construction industry. The main goal in the current situation is to prevent the stalling of construction projects. This is crucial for millions of Russians who need new houses and apartments.