the Russian Federation could afford to give public money thanks to a powerful macro-economy, however, some limitations can’t go down the same path that the United States and the European Union. This was stated by the President and the Chairman of the Board of Sberbank German Gref in the interview the head of the Duma Committee on budget and taxes Andrey Makarov to “the Ribbon.ru”.
“we Have no such market-based source of money, which is the United States or the EU. We do not have such a number of instruments through which we may attract similar amounts of money,” he shared details of Gref.
He reminded that Russia is one of the most prosperous countries in the world in terms of public debt, which amounts to 15% of the gross domestic product (GDP), which is very little. According to the Gref, thanks to the Russian Federation could “calmly afford” to give to the citizens an amount equivalent to 20% of GDP — some 20 trillion rubles.
“But I think we are up to 10% of GDP can be spent to overcome the crisis, to help people. Not what is called “helicopter money” to help all, but to help those people who are in a difficult situation” — summed Gref.
In April, the idea of handing out money to everyone in the Russian Federation was expressed by the group of economists, among whom was Professor of Economics at the Paris School of political Sciences Sergei Guriev and Professor, University of Chicago Konstantin Sonin. From the point of view of the last feasible option is to pay each citizen a lump sum, for example, in the amount of 10 000 rubles in April-may and then by the same summer and autumn. The Chairman of the Bank of Russia Elvira Nabiullina refused to consider this concept one of the ways of overcoming the current crisis, as the country, in her view, preserved other measures of support.
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