Russian government will not cut budget spending in 2020

The Russian Government does not plan to reduce budget expenditures this year, as stated in the document titled "On measures to support sustainable economic development," posted on Tuesday on websites of the Cabinet and the regulator.

"The government does not plan cutting budget expenses against the planned level," the document says. The Ministry of Finance will also "monitor the balance of regional budgets and required financial aid will be provided to them as needed," the statement says.

The government and the Central Bank introduce a package of economic support measures in view of the coronavirus spread, the authorities said earlier today in a joint statement.