“According to this plan, we will allocate 1.375 trillion rubles [$20.9 billion] for these measures. This is not a direct spending from the federal budget, there is a part that includes indirect costs, another part will include additional allocation of the state guarantees,” Shuvalov said at a government meeting with Russian President Vladimir Putin.
Shuvalov added that a portion of the funds will be taken from the Russian National Wealth Fund.
Shuvalov also listed several points of the anti-crisis plan, including allocating $760 million to support agriculture, $304 million to support industry, and $240 million for public health.
The Russian economy is currently facing a downturn caused by a sharp decrease in oil prices and the negative effect of geopolitical tensions, including Western sanctions imposed on Moscow over its alleged role in the Ukrainian conflict. According to the most recent report by the International Monetary Fund (IMF) in 2015 the Russian economy is expected shrink by three percent.
