Georgiadis: Part of Returnable Advance May Not Have to Be Repaid

December 16, 2020

ATHENS — Once the pandemic is over, the government intends to look into the possibility of the partial non-repayment of the first to third Returnable Advance to businesses, as was the case for the rounds that followed, Development and Investments Minister Adonis Georgiadis said on Wednesday.

"We will do the sums and examine our capabilities as the state," he said, during an Antenna television breakfast show.

Georgiadis also referred to e-commerce, noting that it was here to stay, and said the "click away" method cannot replace the ordinary operation of shops but allowed at least some sales, which was preferable to none.

While he conceded that this method favours larger and better-organised businesses, the minister said the initial figures show that smaller shops also made substantial sales during the first days of the measure.

He clarified that these businesses will not be removed from the list of pandemic-stricken companies and will continue to receive state support, and he also explained why the businesses that stayed shut over the holiday season will get an 80 pct rent cut that was not extended to furloughed workers, noting that the businesses had to contend with the double blow of missing out on the normally higher Christmas season turnover and therefore needed additional support.

On click away in shops within shopping malls, Georgiadis said the option was available provided that the collection of orders did not take place in indoor spaces and the rules applying to other shops were followed.


ATHENS - The state coffers whacked by the cost of subsidizing losses in summer wildfires and floods - largely covered by European Union funding - Greece will also get some 55 billion euros ($57.

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