Putin’s generous socio-economic support package aimed at preventing economic suffering Coronavirus lockdowns causing elsewhere:
“1. Nationwide paid leave starting week commencing March 28
2. The vote on constitutional changes has been postponed from April 22 until further notice
3. All social benefits are to be extended automatically, no documentation required
4. All families that qualify for maternity benefits are to get an additional 5,000 rubles (ca. $63) monthly for each child under 3 for the next three months starting from April, 2020.
5. All employees on sick leave will not have their pay reduced below the minimum wage – this provision will last through 2020
6. The new maximum unemployment benefit pay will be set at 12,130 rubles (ca. $154)
7. All private loans and mortgage payments are to be frozen for borrowers who provide evidence of a more than 30% decline in the ability to repay (failure of business, salary-related issues, etc.)
8. Concerning businesses suffering through the COVID-19 outbreak, the new measures are as follows:
* Small and midsize businesses: tax payments – aside from value added tax – are to be postponed for six months.
* Microbusinesses: an additional postponing of insurance payments for six months.
9. A six-month delay in loan payments for all small and midsize businesses
10. Additional measures for strengthening small businesses are to be introduced
11. A six month moratorium on bankruptcy claims for businesses operating in areas hardest hit by the outbreak
12. Dividend tax rate is to indefinitely be increased to 15 percent in case of money taken out of the country
13. Returns on each personal investment, including bank deposits and stocks exceeding the total sum of 1 million rubles (ca. $12,600), are to indefinitely be taxed 13 percent”
The largest country in the world is faring surprisingly well when it comes to surviving World War C, which is greatly attributable to Russia’s proactive measures in taking COVID-19 as serious as possible, including through border closures and the forthcoming imposition of what can be described as “lockdown-lite”.
Ahead Of The Curve
World War C has taken the planet by storm and is set to continue wreaking havoc across the world, but one country has thus far largely avoided the disastrous socio-economic consequences of COVID-19. Russia is faring surprisingly well when it comes to surviving this crisis, which is greatly attributable to its proactive measures in taking this pandemic as seriously as possible. It was one of the first countries to curtail the entry of Chinese citizens, as elaborated upon by the author in his piece last month titled “Russia Bans Most Chinese From Entry: ‘Pure Racism’ Or…
View original post 1,063 more words