Putin: "We Must Monitor COVID-19 Economic Damage 24 Hours a Day"

[Image source=AP Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Russian President Vladimir Putin has instructed Russian authorities to monitor economic damage caused by the novel coronavirus infection (COVID-19) around the clock.

According to Russia's TASS news agency, on the 29th (local time), President Putin ordered the government to "compile a list of economic sectors most severely affected by the spread of the coronavirus and to continuously monitor the economic situation 24 hours a day." The Russian government plans to report the economic situation to President Putin monthly starting from the 1st of next month.

In a special address to the nation on the 25th, President Putin announced household and corporate support measures, including extending repayment deadlines for consumer and mortgage loans for ordinary citizens whose income has dropped by more than 30%, and deferring payment of all taxes except value-added tax for small and medium-sized enterprises for six months.

Meanwhile, according to Russian health authorities, as of this day, the cumulative number of confirmed COVID-19 cases in Russia stands at 1,534, with 8 deaths reported. Russia, which had very few confirmed cases compared to other European countries, has recently seen a rapid increase in the number of confirmed cases.