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Putin delays $360bn spending plan as Covid-19 batters economy

Volte-face comes shortly after vote that allows Russian president to extend his rule for another 16 years

Vladimir Putin has delayed his flagship $360bn national investment plan by six years as the coronavirus pandemic pitches Russia into recession and leaves a hole in the federal budget. Mr Putin unveiled the so-called National Projects two years ago as a much-needed Rbs25.7tn ($362bn) injection into the Russian economy, and promised it would lift stagnant…

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