OREANDA-NEWS  The authorities provided about 1.25 trillion rubles of credit support to small companies in 2022. This was stated by Russian Prime Minister Mikhail Mishustin during a speech with a report in the State Duma.

"We will continue to pay special attention to small businesses. After all, this sector provides a fifth of GDP and about a third of jobs. It was small organizations that first felt the disruption of logistics chains. They needed help. In total, they provided almost 1.25 trillion rubles of credit support," he said.

The head of government added that the authorities obliged state-owned companies to carry out 25% of purchases from small organizations, reducing the payment period to seven days and raising the advance to half the amount. "As a result, in three years the volume of purchases from small and medium-sized businesses has almost doubled and exceeded seven trillion rubles," Mishustin said.

According to the Prime Minister, as part of the support of small businesses, the payment deadlines for the USN were extended (simplified taxation system - approx. TASS) and insurance premiums, which allowed the business to save more than 800 billion rubles. "And for companies where there are no more than five employees and income does not exceed 60 million rubles, a new regime has been introduced - an automated simplified taxation system," Mishustin said.