Coronavirus-New measures: 800-euro allowance to be given to 1.7 million workers -Also covers an additional 700,000 freelancers

The government is announcing a new package of measures for the economy due to coronavirus .

Interventions announced by ministers Christos Staikouras, Adonis Georgiadis and Yiannis Vroutsis “locked in” yesterday’s wide-ranging government meeting at the Maksimos Palace. This is a new set of measures to stimulate the economy, businesses and employees.

In detail the 4th package of financial measures for the coronavirus. Finance Minister Christos Staikouras said:

  • The 800 euros allowance is extended to other employees. In total will be 1.7 million workers ( coverage sttis nominal contributions on the nominal wage for 45 days , suspend payment confirmed debt to the tax authorities)
  • An additional 700,000 self-employed, self-employed and self-employed companies are covered.
  • Preserving existing jobs is a prerequisite for being favorable to business.
  • It is expanding to many more businesses to take measures to protect them and their jobs. A total of about 800,000 businesses are covered, 76% of all legal entities.
  • Aid to businesses directly from the state through a repayable advance. The amount will be calculated based on the change in the current state of the business. No redundancies are required.
  • The Easter gift will be paid by all businesses to all employees. Businesses not included in the forecasts must pay for the Easter gift. If the work is temporarily suspended, the gift will be paid from the state budget. 108,000 hospital workers at EKAB, EODY and the SG will receive emergency support by 10 April.
  • Banks and loan managers will make it easier to repay installments of loan affected loans, based on current measures.
  • Support measures to sectors of the primary sector. An amount of EUR 50 million is allocated to the Ministry of Rural Development.
  • Supplementary spending on the state budget to protect public health from the coronavirus is more than $ 5.1 billion in March and April alone. A total of 6.8 billion are allocated to the coronavirus.

The main points of Adonii Georgiades’ announcements

  • Affected businesses are entitled to a 3-month suspension of their debts.
  • We must safeguard the payment culture. Those who can pay to do so.
  • We are looking for a solution to the issue of checks. There is a big problem of liquidity mainly for export companies. There will be a solution in the coming days to solve the problem of sourcing from abroad.
  • To restart the next day, early April we deposit $ 1 billion as collateral for loans to affected businesses, guaranteed in large part by us.
  • The state will do what it needs but within the limits of its capabilities, with a look the next day. We need everyone’s understanding and rational behavior.

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