Russia's State Duma adopts repayment holiday bill amid coronavirus spread
MOSCOW, April 1 (RAPSI) – The lower house of Russian parliament, the State Duma, adopted in a final third reading on Wednesday a bill on repayment holidays drafted over the coronavirus epidemic.
Amendments drafted upong the order of President Vladimir Putin are to be introduced in the Law on Central Bank of Russia.
The document gives citizens and individual entrepreneurs found themselves in reduced circumstances due to the coronavirus epidemic a right to repayment holidays if their income for a previous month reduced by 30% or more as compared to the average monthly income for a previous year. The holidays for maximum 6 months would apply to mortgage and consumer loans.
The draft law also stipulates a possibility of repayment holidays for small and medium-sized business entities from the most suffered economic sectors. A list of such fields is to be determined by the government.