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Economy

Greece Announces Support Measures of 2.3 Bln Euros for Businesses, Households

October 31, 2020

ATHENS –Finance Minister Christos Staikouras announced economic support measures for workers and businesses in view of additional restrictions against the coronavirus pandemic announced by Prime Minister Kyriakos Mitsotakis on Saturday.

The cost of these support measures totals 2.3 billion euros until year's end, clarified the minister, while for November alone, which coincides with the duration of the new measures, the cost of these amounts to 1.5 billion euros, he added.

Employees affected by the emergency measures, which include extensive closures of restaurants, bars and coffee shops, among other establishments, can claim support wages of 534 euros per month after the temporary suspension of their contracts, while their social security or insurance contributions will be covered by the state where and for how long restrictions apply. During that time, lay-offs are deemed illegal, and rent rates in commercial real estate and primary residences are cut by 40 pct.

Businesses affected by emergency measures will see their VAT tax payments payable in November extended to April 30 2021, while bank loan monthly payments are suspended to year's end.

Unemployment benefit claims that expired or will expire in the months of September, October, November and December are extended by two months.

 

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