Russian Govt develops action plan to stabilize economy
The Russian government has developed an action plan to stabilize the economy in difficult conditions, Prime Minister Mikhail Mishustin said, according to Ria News.
Thus, the Cabinet of Ministers has proposed to exempt citizens with bank deposits of more than a million rubles from personal income tax with interest on them for 2021-2022, as well as to raise the luxury tax bar for car owners from three to ten million rubles.
Russia’s military operations in Ukraine, which Kremlin says is to stop the threat to its national security, have earned the country the economic unprecedented economic sanctions by the West.
President Recep Erdogan of Turkey has however been making effort to make peace in the impasse, although United States of America’s President Joe Biden has been seen to openly set out for full support of Ukraine with approval of over three hundred million dollars in aids, supplies of war equipment and mobilisation of NATO member countries to isolate Moscow from all their economic relations.
Hungary, however, has told European Union summit held in France Tuesday that its economy cannot survive outside of Russia’s gas.
China, India, North Korean, United Arab Emirate and some other countries, undisclosed, have continued to stand behind Russia although preach both parties cease fire.
