Posted 6 мая 2020,, 13:52

Published 6 мая 2020,, 13:52

Modified 24 декабря 2022,, 22:36

Updated 24 декабря 2022,, 22:36

The Ministry of Finance explained why the Russians will not be distributed "helicopter money"

The Ministry of Finance explained why the Russians will not be distributed "helicopter money"

6 мая 2020, 13:52
if the ruble was the world's reserve currency, Russia could launch emission and direct allocation of funds to citizens, as was done in a number of countries during the coronavirus pandemic. This was stated by Minister of Finance Anton Siluanov.

“If we were to print reserve currencies, we could “scatter money from a helicopter” and spend trillions of rubles”, - he said in an interview with the Vedomosti newspaper.

According to the head of the Ministry of Finance, there is no need to compete in who will spend the most. He noted that assistance should be provided to those who most need support. For example, the minister said, it is necessary to support the business so that it can save workers, help the population in paying priority expenses for food, housing and paying off loans.

He recalled that small businesses that suffered from the pandemic were granted a six-month deferral of taxes and loans, rental payments, as well as interest-free salary loans, which, according to the recipients themselves, were the most useless measure of support. In addition, the minister said, grants in the amount of the minimum wage for the employee were issued.

- You say the minimum wage is not enough, but for small enterprises, if we take white salaries, this is 70% of the wage fund, it doesn’t work out that much. Yes, someone paid in envelopes, but it is already on the conscience of these companies, Siluanov stated.

The head of the department said that the Ministry of Finance’s task is to assist enterprises after exiting forced vacations. Therefore, it was decided to grant postponement of these debts until the end of the tax holidays.

Meanwhile, Dmitry Potapenko, managing partner of Management Development Group, told Novosti Izvestia that small businesses today need not deferral, but a complete abolition of all taxes, at least until July 1.

- And to reset backdating, starting from January 1, 2020. While developing measures, any epidemic will end here. And business, of course, will die. I suppose that up to 70% of small enterprises will be closed, ”Potapenko issued a verdict.

As for the "helicopter money," Siluanov is not the first to say that the Russians will not have to wait for them. The head of Sberbank German Gref already explained the government’s refusal to distribute funds to the population by the lack of opportunities. Central Bank chairman Elvira Nabiullina argued that in Russia "of course there is no such need." Against the distribution of money to the Russians he acted and former Deputy Prime Minister Arkady Dvorkovich, offering a "focus on targeted support."

We recall that in March, the United States announced that it was launching a large-scale program to stimulate the economy and help citizens in a pandemic. According to the program, adult Americans should receive a thousand dollars, and children - 500 dollars each.

Similar measures were taken in Hong Kong, where each resident was supposed to receive 10 thousand Hong Kong dollars.

In addition, Australia and Japan provided financial assistance to their citizens.