BUSINESS

Greece to detail Recovery Fund allocations in October, says minister

TAGS: Finance

Greece will submit a list of how it plans to use resources from the EU’s coronavirus Recovery Fund to the European Commission in October, Finance Minister Christos Staikouras said on Thursday.

In comments on Mega television, Staikouras said that the Greek priorities are separated into two categories: first, dealing with the impact of the coronavirus pandemic on income, employment, small- and medium-sized enterprises and public health, and second, measures for economic recovery.

The Greek minister said that the country will seek to offer direct help to households and enterprises, and will hopefully be able to do so within 2020 pending the disbursement of the European Union funds.

He said that the European Commission’s proposal was “emblematic, fully aligned with the great needs of the European economy, fair and flexible.”

Staikouras reiterated that the Commission’s SURE program for bolstering employment will be launched on June 1, as will borrowing from the European Investment Bank for Greek SMEs.

He added that there are credit lines available from the European Stability Mechanism through 2022 but underlined that all economic support measures so far had been funded by national resources.

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