Russia: state support for business affected by COVID-19 2020

The largest volume of governmental support was directed to small- and medium-sized enterprises in Russia in order to overcome the coronavirus-evoked crisis. With over 400 billion Russian rubles, deferred tax and insurance payments for affected SMEs was the type of aid with the highest value of the governmental support.

Governmental support to business in view of the coronavirus (COVID-19) influenced crisis in Russia in 2020, by type (in billion Russian rubles)

Characteristic	Grants in billion Russian rubles
Deferred tax** and insurance payments for affected SMEs during 6 months	410
Reducing the rate of insurance contributions from 30 to 15% for subjects of SMEs*	350
Subsidies to companies for the amount of 1 minimum wage	80
Soft loans to backbone entreprises to replenish working capital****	60
Industry support: airlines	24
Guarantee fund for company support	23
Support for small businesses***	18
Grants for deferred loan payments for SMEs (one third of the loan)	5
Industry support: compensation for tour operators	3.5

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Release date

April 2020

More information

Region

Russia

Survey time period

As of April 2020

Supplementary notes

* Between 285 and 350 billion Russian rubles.
** Deferrals on taxes, contributions and loans for SMEs.
*** For example, working capital loans for micro-trading enterprises.
**** The cost of interest rate subsidies. Between 24 and 60 billion Russian rubles.

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