Russia introduces stimulus plan to revive economy

Russian Prime Minister Mikhail Mishustin said on Tuesday that Russia’s economic stimulus plan to help the economy recover after the coronavirus outbreak and lockdown would cost Russia around 5 trillion roubles ($72.75 billion) over the next two years, according to Reuters. 

Speaking to President Vladimir Putin at a televised government meeting, Mishustin also said the plan would require changes to a spending plan announced by Putin before the crisis.

The plan covers three stages: stabilization (until late 2020), recovery (until the second quarter of 2021), and growth (until the fourth quarter of 2021), Mishustin said.