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Coronavirus pandemic

Putin orders to consider conditions for special investment contracts extension

Investment plans of machine-building companies, fertilizer producers and other enterprises can be revised in view of the coronavirus fallout, according to the president

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NOVO-OGARYOVO, May 20. /TASS/. Deadlines to honor investment commitments under special investment contracts can be postponed because of the coronavirus pandemic, Russian President Vladimir Putin said on Wednesday.

Investment plans of machine-building companies, fertilizer producers and other enterprises can be revised for objective reasons in the current situation, according to the president.

"Therefore, I agree. Fulfillment of investment commitments by the business [can] be moved to the right, postponed until a later date for special investment contracts and competitiveness improvement programs," Putin said, asking the government to work out terms of such a postponement.

Export and import

Export figures of Russian agricultural products are satisfactory but imports do not decline, the president noted. Agricultural exports from Russia totaled $25 bln in 2019.

"This is merely an incredible figure, compared to prior periods of the agricultural sector development. Nobody thought 10-15 years ago that this could actually take place," he said. "Nevertheless, our exports [of agricultural products] dropped by 1% last year," the head of state noted, specifying that there are objective reasons for that.

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