Russia to create a $4 billion anti-crisis fund to protect economy

The Prime Minister of Russia recently announced that the country will create a $4 billion (300-billion rouble) anti-crisis fund with an aim of protecting its economy from the coronavirus attack.

He also announced that Russia may miss its growth targets this year and international markets have been crashed by the impact of the virus. Huge drop in the price of Russia’s main export, Oil has made its economy dip and made its currency rouble being pegged at four-year lows against the dollar. The country is set to unveil new support measures would include tax breaks for tourism companies and airlines.