Siluanov told how the world avoided a collapse of the economy during a pandemic
Measures of the "group of 20" would prevent the worst scenario in the world economy in a pandemic COVID-19, said the head of the Ministry of Finance of the Russian Federation Anton Siluanov, speaking at a meeting of Finance Ministers and Central Bank governors "group of twenty", which took place on Saturday via videoconference.
"Taken "twenty" measures to support the economy and the population both at national and international level was effective and timely, which allowed to prevent the implementation of the most negative scenarios of development of world economy," Siluanov quoted in the message of the Ministry of Finance of the Russian Federation.
The participants of the financial "twenty" noted the progress in implementation of the approved in April a plan of action to support the global economy. "Managers of financial services discussed the situation in the global economy, possible policy measures to stimulate economic activity in terms of new coronavirus infection. The Ministers and governors also noted the progress in implementation of the approved in April of this year, the action plan of the "group of 20" to support the world economy in the conditions of pandemic and discussed the results of financial track", - stated in the message.
The action plan of the "group of 20" includes the steps to Fund the emergency response in the health sector, targeted support for vulnerable groups of the population and businesses (including small and medium business) and the creation of conditions for recovery.
Siluanov also said the unprecedented package of measures that Russia has taken in three key areas - support of the population, support of companies and industries, the strengthening of the health system.
"Given the relatively high efficiency of anti-crisis measures taken by Russia, the decline of the domestic economy will not be as deep, and its recovery more dynamic than in other countries. This allows you now to think about a gradual return to normal life – including in the sphere of budget policy. Russia proceeds from the need to return to the observance of the "fiscal rules" 2022", - stated in the message.
Siluanov also said that Russia has acceded, and actively participates in the joint initiative of the g-20 and the Paris club for the deferral of debt payments for countries with low income.
Following the meeting of heads of financial departments issued a joint communiqué and agreed on further coordination of efforts to sustain the global economic recovery.
Relevant data on the situation of COVID-19 in Russia and the world presented on the portal stopmanager.of the Russian Federation.