Russia allots USD 18 billion to fight coronavirus

RUSSIA / FSU POLITICS - In Brief 01 Apr 2020 by Alex Teddy
On March 31 Prime Minister Mishustin announced that USD 18 billion has been put aside to spend on COVID-19. Lockdowns in Moscow and St Petersburg have been tightened. In the rest of the country they laxer - though a state of emergency means regions have more power to act, and Moscow is sharing technology on lockdown security with other local leaderships. The federal government is working on plans to save small and medium sized businesses and some regions which have been particularly heavily affected. The tourist industry and airlines have been given state aid. Russian citizens are no longer allowed to go abroad for the timebeing. Russia has sustained 2777 cases of the disease and 24 deaths. Some suspect that the true figures are substantially higher. Given the suggestion China has multiples of unreported asymptomatic cases, this seems likely.The crisis is costing Russia up to USD 3 billion a day considering trade paralysis and that oil prices have dropped to USD 25 a barrel. The question is how long the government can sustain such losses without severe spending cuts or seeking massive loans.

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