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Economy

Staikouras: New Package of Support Measures Will Cost €2.5Β

ΑΤΗΕΝS — The new package of support measures announced by the prime minister will cost 2.5 billion euros, Finance Minister Christos Staikouras said while presenting the measures in detail on Thursday. More specifically, the support measures include:

1. Improving the terms of state loans programme by offering a 50 pct exemption to the loans disbursed in the three first rounds of the programme for turnover losses suffered by enterprises in 2020. The cost of the measure is around 570 million euros.

2. Starting a new round of state loans, round 7, in April based on turnover losses suffered in the first quarter of 2021, also with a payment exemption rate of 50 pct. The cost of the measure will be around 1.0 billion euros.

3. Expanding periods of repayment of state loans, from 40 to 60 tranches and offering a 15 pct discount on on-off repayment.

4. Introducing a new framework for supporting enterprises in the form of subsidising fixed overheads in 2020, such as social insurance contributions, energy, water, telecommunications, rents, other operating expenses, capital expenses. The cost of the programme is estimated at 500 million euros.

5. Introducing a new "Gefyra" programme subsidising corporate loans, mostly for micro, small- and medium-sized enterprises and the self-employed. The program envisages the subsidy of monthly payments of corporate loans for eight months, covering both capital and interest, without any ceiling on debt. The cost of the measure is estimated at 300 million euros.

6. Expanding a measure suspending payments of tax debt at a cost of 60 million euros.

The Greek FinMin said that the government has supported and continues to support households and enterprises with measures worth a total of 35.6 billion euros in the 2020-2021 period, adding: "It is clear that it will take time to return to normality. However, we stand by the side of society and will continue to do so for as long as it takes, always within the fiscal and cash capabilities of the country."

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