Tourist cashback program not to be prolonged

© Photo: Maria Novoselova/Vestnik Kavkaza

The government of the Russian Federation has decided not to extend the tourist cashback program. The saved money is planned to be used for the tourism development within the country.

The Russian authorities are not going to extend the tourist cashback program, Deputy Prime Minister Dmitry Chernyshenko announced. According to him, the cashback program was a temporary measure and was meant to support tourism businesses at a time of low demand.

“It was a measure of both social and business support in a situation where demand had declined very sharply and needed to be supported. Any of such measures has its downside - it accelerates inflation, increases the cost of the product. Which is then falls on the shoulders of consumers. As a one-time measure, it worked great,”

– Dmitry Chernyshenko said.