News Local Support schemes by Finance and Labor Ministries

Support schemes by Finance and Labor Ministries

During a news conference, the Ministers of Labor and Finance announced new support schemes and extension of the current ones for businesses and employees who will be affected by the new strict measures to face the pandemic.

Finance Minister Konstantinos Petrides announced five schemes:

  • Plan to support workers
  • Plan to provide subsidies for businesses whose turnover was reduced beyond 80%
  • Plan to provide subsidies for businesses which fully suspended their operations
  • Six-month extension to scheme subsidizing interest rates on new business loans
  • Six-month extension to scheme subsidizing interest rates on new housing loans.

Labor Minister Zeta Emilianidou assured that support will continue and announced two new schemes:

  • Special allowance equal to 60% of income for workers in Limassol and Paphos who cannot go to work due to restrictions
  • Special services for vulnerable persons whose family is not in Limassol or Paphos.

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