Insider Economy State to contribute towards salaries of 250,000 employees, self-employed

State to contribute towards salaries of 250,000 employees, self-employed

The Finance Ministry plans to provide the domestic market with loans up to €2 billion to maintain a security cushion.

And despite the economic difficulties, there are two positives — the liquidity of the state stands at €1.4 billion and the banking system’s liquidity surplus is €14 billion.

These figures give both the government and commercial banks flexibility, Phileleftheros reports.

The daily also looks at all measures taken by the government in a bid to help the self-employed, private sector and businesses weather the coronavirus crisis.

There are €462 million worth of fiscal measures on the table, €235 million of which will support one-month’s income. Of this sum, €180 million are for employees, €20 million for self-employed, €20 million for parental leave, and €15 million for sick leave.

The state is expected to contribute to the salaries of 220,000 employees and 31,000 self-employed individuals in March in an effort to support all those who are economically vulnerable.

The government wants businesses to stay afloat during the crisis, and after conditions go back to normal to become viable and gradually make a profit while jobs are maintained.

In addition to earlier measures, an €11m support for the recovery of the tourism sector was announced, €3m for education, €15m for students, €98m for GESY’s second phase suspension and €100 million as additional health expenditure.

It seems that foreclosures are also suspended for three months, along with tenants’ express evictions for failure to pay rent.  There is also a 10% reduction in electricity charges.

The government’s package of measures also includes direct support to businesses with a direct loss of revenue, such as suspension of VAT and Social Security payments.


Read more:

Coronavirus: €302m complementary budget submitted to House

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