On Tuesday, October 19, First Vice President of Opora Rossii Pavel Sigal, in an interview with Izvestia, commented on the order of Prime Minister Mikhail Mishustin to Deputy Prime Minister Andrei Belousov and Minister of Economic Development Maxim Reshetnikov to prepare new measures to support business in a pandemic.
He stressed that measures to support business during the pandemic played a very important role in the preservation of Russian enterprises and companies, both small and medium-sized businesses and large ones.
“The coronavirus turned out to be a ‘black swan’ for the world economy, an event that could not be predicted, so the damage to entrepreneurs turned out to be significant – many companies did not know how to react and act, where to look for help, and how to organize work with personnel,” he explained he.
Support measures, which in Russia were quickly developed at the government level, first of all, allowed companies to retain their staff and prevent the growth of unemployment, Sigal emphasized.
The most popular among these were soft loans for salary payments, as well as various types of subsidies for the industries most affected by the pandemic, such as beauty salons and travel companies.
“Thanks to this, in the summer of 2020, when the restrictions were eased, business activity began to recover quickly. Now the number of infected people in the country is growing and new restrictions are possible, so the state is preparing additional support measures, taking into account those that were in demand and highly appreciated by business last year, ”the expert said.
According to his forecast, the new support measures will affect public catering, leisure and tourism. They will also affect a number of other industries. Moreover, the measures can be very different, ranging from concessional loans to loans to replenish the working capital of enterprises, Sigal added.
He also pointed out the widespread use of the QR code system, thanks to which new restrictions for business will not be introduced, and security measures for clients will be provided at the same time. Thus, store buyers will be able to visit them as usual, which has a positive effect on profits.
In turn, Alfa Capital analyst Denis Badyanov emphasized that the government is initiating the development of a new package of measures to support enterprises so that business, amid new restrictions due to coronavirus, does not suffer losses in the form of reduced profits and loss of revenue.
He also pointed out that in the past year, soft loans to pay salaries to employees in the amount of 1 minimum wage or loans to replenish working capital were popular. They allowed businesses to keep jobs, keep unemployment from rising, and then re-launch business development projects.
Despite the fact that the country’s economy is recovering quite actively, the new restrictions will reduce the pace, therefore, Badyanov is sure, additional support measures will also be relevant this year.
“Tools for business will allow enterprises to preserve their payroll, staff, and survive difficult times with minimal losses. This, ultimately, will have a positive effect on the entire economy of the country and on the incomes of our citizens, ”he concluded.
Mishustin instructed Reshetnikov and Belousov to promptly prepare proposals on measures to support business earlier in the day at a meeting of the coordinating council for combating coronavirus.
Over the past 24 hours, 33,740 new cases of COVID-19 were detected in Russia in 85 regions of the country. Most cases were registered in Moscow (5700), St. Petersburg (3220) and Moscow region (2955).
Russian President Vladimir Putin said in June that the system of providing financial assistance to small and medium-sized businesses in the Russian Federation will develop.
All relevant information on the situation with the coronavirus is available on the websites of stopcoronavirus.rf and access vsem.rf, as well as by the hashtag #WeV Together. Coronavirus hotline: 8-800-2000-112.