Putin instructed SME entities to entitle them to credit holidays

By June, the Government and the Bank of Russia will ensure that legislative changes are made to ensure that small and medium-sized enterprises (SMEs) have the right, every five years, to take credit breaks for six months. President Vladimir Putin gave such an assignment.

" The right of small and medium-sized enterprises not more than five years to apply to a financial organization creditor requiring a concessional period to be suspended by the borrower ' s obligations under the credit contract (remuneration) for up to six months without a deterioration in credit history (credit holidays) " should be listed on the official Kremlin portal.

It is noted that the order must be completed before 1 June, the responsible Prime Minister, Michael Mischustin, and the President of the CB, Elvira Nabiullin.

Credit holidays are deferred credit payments for a certain period. The duration of such a delay may be up to six months. Credit holidays are available to citizens, small and medium-sized businesses, who have been in a difficult financial situation.

Support for entrepreneurs in the field is provided through the national project " Maloe and Middle Entrepreneurship and support for the individual business initiative " , which was initiated by the President and supervised by the First Vice-Prime Officer, Andrei Belousov.

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