Support The Moscow Times!

Medvedev For Small Business

ELISTA, Kalmykia Republic — President Dmitry Medvedev called Tuesday for the country to tackle unemployment by financing small businesses, a key part of the country's drive to diversify its economy.

Unemployment hit an eight-month high of 5.71 million people, or 7.6 percent, in January. In December, Medvedev offered tax breaks estimated at 41 billion rubles ($1.42 billion) to the small business sector over two years.

"We give people a chance to start a new life and set up their own business, even if it is a small one," Medvedev told a group of residents who had recently used state subsidies to set up their own farming and transport businesses.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.