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16 Mar, 2020 09:41

Russia to launch $4 BILLION anti-crisis fund to stabilize economy

Russia to launch $4 BILLION anti-crisis fund to stabilize economy

Russian Prime Minister Mikhail Mishustin announced on Monday the establishment of a 300-billion-ruble anti-crisis fund in order to support the country’s economic sectors and citizens amid the global coronavirus pandemic.

"We have developed a number of priority measures, and I think it is necessary to take a number of actions today to prevent the negative impact of coronavirus on the country's economy and people's lives," said Mishustin, who has headed the government’s Coordinating Council to combat the spread of Covid-19.

The prime minister said that the government will soon launch a single hotline and an online alert system for citizens (including through social networks) to provide them with the latest information on the spread of coronavirus.

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In addition, up-to-date news on the number of patients and those who have recovered will be constantly posted, Mishustin said.

According to the PM, the active preventive measures that were taken by the Russian authorities in February limited the outbreak of coronavirus in Russia. He has vowed that the state will take comprehensive measures to prevent the mass spread of the infection.

So far, the number of coronavirus infections in Russia has topped 90, with Moscow having the most cases. Russia has limited air traffic with EU countries and suspended the entry of foreigners through its borders with Poland and Norway. Railway contact with Latvia, Moldova, and Ukraine has been canceled. On Monday, the Russian government announced that the border with Belarus has also been closed.

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