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Economy

Staikouras: Greece Examining Additional Support Measures for Hospitality Sector

ATHENS — The Greek government is examining a package of support measures for the hospitality sector with additional financing tools, Finance Minister Christos Staikouras said on Wednesday, leaving open the possibility that these support measures might be expanded to other sectors. In comments made to SKAI radio station, Staikouras said he expected tourism to double last year's levels in 2021 and reach 50 pct of 2019's record levels.

He reiterated that the lockdown cost around 750 million euros per week and added that the ministry has already announced measures worth 2.5 billion euros for the support of the economy, while he noted that this bill would grow further. In this framework, he warned of a growing fiscal deficit and public debt this year, however he said it was encouraging that deposits in Greek banks rose by 20 billion euros, of which 10 billion euros by individuals.

 

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