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Government to spend $5.2 bln on social initiatives in two years, says minister

President Vladimir Putin said in his annual State of the Nation Address to the Federal Assembly earlier Wednesday that Russia will introduce a financial stimulus package for children aged 8-16, who live in single-parent families, to the tune of 5,650 rubles ($73) per month, by July 1

MOSCOW, April 21. /TASS/. The Russian government will spend roughly 400 bln rubles ($5.2 bln) on social initiatives in two years, Finance Minister Anton Siluanov told reporters on Wednesday.

"In two years, that is roughly 400 bln rubles, the biggest part of which - around 270 bln rubles - [will be spent] this year, and about 130 bln rubles - next year," he said.

President Vladimir Putin said in his annual State of the Nation Address to the Federal Assembly earlier on Wednesday that Russia will introduce a financial stimulus package for children aged 8-16, who live in single-parent families, to the tune of 5,650 rubles ($73) per month, by July 1. Besides, pregnant women in a challenging financial situation will receive payments of 6,350 rubles ($82) per month (after the sixth week of pregnancy).

In addition, families with school-age children and future first-graders will get 10,000 rubles ($130) this year.