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Ministry of Economic Development of Russia published rules for selecting systemically important enterprises to provide targeted support measures. This is another important component of the package of anti-crisis measures to support the economy developed by the Russian Ministry of Economic Development by the instruction of the Government.
These include deferred tax deferments, state guarantees on loans, and direct subsidies to compensate companies affected by the crisis for their expenses. These are new frameworks, in addition to the measures already in place for systemically important companies, for providing preferential loans.
The Decree provides for the regulation of processes and procedures for the selection of companies at risk based on the results of stress testing under crisis conditions organized by the Ministry of Economic Development.
It is envisaged that the main office will be created at the interdepartmental commission of the Ministry of Economic Development of Russia to organize work. The tasks of the main office will be to promptly consider applications from systemically important enterprises when submitting them to the relevant ministries and send recommendations on approving support measures to specific enterprises to the Government Commission for Russian Economy Sustainable Development Improvement.
The key task of the adopted regulation is to provide targeted assistance to the affected systemically important companies to timely mitigate the risks of material deterioration in performance indicators.
At the same time, a set of support tools has been significantly expanded, which will allow to develop and implement a specific set of measures to solve specific problems of systemically important companies.
By the 15th of May, Ministry of Economic Development will issue departmental orders allowing the procedures to be launched to the fullest extent.