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Russia has enough reserves to cope with Covid-19 crisis – PM Mishustin

Russia has enough reserves to cope with Covid-19 crisis – PM Mishustin
The Russian government’s revenues and vast reserves have enabled the country to remain stable and deal with the coronavirus pandemic, Prime Minister Mikhail Mishustin said on Wednesday.

According to the top official, the pandemic has slowed down the rate of economic growth, reduced revenues at all budget levels “and caused significant damage to a large number of people, companies and organizations.”

“As for our national reserves, or the so-called safety cushion, I want to assure everyone that our macroeconomic stability and reserves allow us to feel very comfortable and stable,” Mishustin said in an interview with Rossiya 24 TV.

He noted that Russia has enough funds to ensure strategic national goals and national projects.

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“There is no need to worry, we have sufficient funds to ensure, accordingly, all those strategic national goals that, as you know, were recently designated by the presidential decree until 2030, and the national projects that we are working on. All the measures that have been taken were very clear and brought results,” Mishustin said.

The Russian prime minister noted the nation’s forex reserves in particular, saying: “Our gold and foreign exchange reserves are stable, and today they amount to more than $570 billion.”

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