Coronavirus: These are the financial measures announced by the Greek government

The first set of measures against the coronavirus was announced by Finance Minister Christos Staikouras. The measures concern the affected areas.

As he said: “The spread of coronavirus, at a global, European and national level, has major adverse effects, first of all on public health, and thus on the economy. In health, outbreaks of the disease are increasing worldwide and health systems are being tested. In the economy, data and estimates to date indicate that the impacts will be temporary, but ultimately far more significant and painful than the initial estimates. “

Mr Staikouras made recommendations for calm, alertness and foresight and announced the 4 pillars of measures:

Pillar 1: Citizens’ information initiatives.

The mechanism of the Independent Public Revenue Authority has been made available to the Government for the immediate communication of specific messages to citizens regarding cronovirus health and economic issues.

Information on the virus has already been sent by the Ministry of Health to all taxpayers through AADE. And additional actions have been launched to inform citizens of the possibility of reducing their direct and direct contact with public authorities through electronic transactions.

Pillar 2: Initiatives to strengthen the public health system.

Full support of the health system for the extraordinary expenses required, as provided for in the Legislative Act, in respect of payroll costs, ICU equipment, medicines, health care, cleaning and storage costs, transportation and sample analysis, etc.

The budget of the Ministry of Health has already been increased by EUR 15 million for the supply of necessary sanitary equipment.

Pillar 3: Initiatives, nationally, to address the negative effects of spreading the virus on the real economy

Key directions of these initiatives will be to stimulate liquidity and safeguard employment.

The first package is:

Suspension of VAT payment, payable at the end of March, for 4 months, in sectors and areas where the business is suspended by government order for more than 10 days.

Suspension of payment of certified debts to the IOs, as well as installments of installments for the payment of certified debts, payable at the end of March, for 4 months, respectively, in sectors and areas where the business is suspended by government order for more than 10 days .

Corresponding measures on social security contributions and their arrangements, which will be discussed by my fellow Minister Mr Vroutsis, adding first and foremost interventions in the field of work.

Establishing a monitoring mechanism, based on the available data from the EFSA, the electronic banking and the Ministry of Labor on the number of employees and insurance contributions, so that we can intervene promptly, targeted and efficiently in the sectors of economy and areas observed a significant decline in economic activity.

Pillar 4: Initiatives at European level for timely coordinated European action

After reassessing the situation at next week’s Eurogroup, concrete initiatives should be taken immediately to tackle the negative effects of virus spreading on growth and public finances.

Initiatives both to prevent the spread of the virus and to strengthen health systems, as well as to stimulate liquidity and safeguard employment.

Such initiatives, which will constitute the second set of interventions by the three relevant Ministries, will be tabled for discussion in the relevant European institutions in the coming days.


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