Grigory Yavlinsky’s web-site, 1.04.2020

The USA directs 9 per cent of its GDP to support people and the economy, the UK about 14 per cent and Germany over 20 per cent. Russia has so far allocated only 0.3 per cent of its GDP for medicine, aid to private businesses and the population.

Where to get the money from? Russia does have financial reserves:

1. The National Welfare Fund – 8.3 trillion roubles;
2. Gold and foreign exchange reserves – USD 580 billion;
3. Russia’s budget is 20 trillion roubles with a surplus of about 2 trillion roubles.

All this money belongs to the people. Now it has to be used.

The epidemic, a significant drop in oil prices and other natural resources, devaluation of the rouble, the global economic crisis and the low efficiency of the Russian economic system are a dangerous combination of negative factors. To overcome the crisis, it will be necessary to wisely use the available resources.

The very moment has come when people and the economy must be supported in every way so that both people and the economy could survive. Afterwards it will be too late. Every week, people and the economy will increasingly need affordable liquidity, that is, money. What is needed is a government package of measures to provide direct financial assistance to people and businesses, a programme focused on the upcoming economic recovery after the crisis.

The state must support the demand, provide affordable loans to entrepreneurs, provide enterprises with orders and do much more. What exactly needs to be done – in terms of priority measures – is contained in the article “The price of coronavirus: how to protect the economy and people”, as well as in the programme of urgent measures  developed by the Yabloko party.