Projected income loss of extrabudgetary funds due to COVID-19 Russia 2020

According to the experts' estimates, a decrease in monthly insurance premiums to extrabudgetary funds, which cover 70 percent of social benefits' expenses in Russia, would grow at greater unemployment and payroll reduction rates as a consequence of the COVID-19 outbreak in the country. At a ten percent job cut and payroll income reduction rates, respectively, forecasted losses were measured at over 130 billion Russian rubles.

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