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Business support measures adopted by the Government will have a long-term effect on the employment stabilization. This was stated on the 29th of June by the Russian Minister of Economic Development Maxim Reshetnikov at the meeting with the Russian Prime Minister Mikhail Mishustin concerning the situation on the labor market.
“These measures are usually long-term. They do not end in May or June,” the Minister emphasized. He noted the fact that both the 0 % preferential lending program and the “Payroll Fund 2.0” program, which started on the 1st of June, is still in effect, and “Payroll Fund 2.0” will operate until March 1, 2021. “We expect that this will also help to stabilize employment,” the Head of Department said.
He also noted that a very large block in the National-Level Economic Recovery Plan is devoted to the structural support of the labor market. “This refers to the retraining of the unemployed citizens, remote forms of employment — dozens of measures aimed at this, in addition to the general economic recovery. Based on this package of measures, I am sure we will fulfill the task that the President set, and in 2021, we will return to a level of employment we had in 2019,” Maxim Reshetnikov concluded.