OREANDA-NEWS. The Russian government and the Central Bank introduce a package of supporting measures to ensure financial stability in the context of the spread of coronavirus.

According to the document entitled “On Measures to Ensure the Sustainability of Economic Development”, “the Bank of Russia will continue to provide the markets with the necessary rouble and foreign currency’s liquidity, and, if necessary, will use regulatory measures to facilitate the adaptation of financial institutions to dynamically changing market conditions.”

The package of measures has three priorities: ensuring financial stability, maintaining the financial sustainability of the economy and supporting the population and regional budgets.

In particular, the Central Bank decided to postpone tax penalties for air carriers and tour operators, as these sectors are most affected by the epidemic of COVID-19. Besides, lending programs for small and medium-sized enterprises will be expanded.