FINANCE

Support measures are extended to April

support-measures-are-extended-to-april

The state will have spent at least 38 billion euros by the end of 2021 on supporting Greek enterprises and employees in the face of the pandemic (€24 billion in 2020 and €14 billion this year), Finance Minister Christos Staikouras stated on Monday as he announced the additional interventions for April.

The measures for next month amount to €1 billion, not including the seventh phase of the “Deposit To Be Returned” program that will begin in the first 10 days of April or the additional support to enterprises through the programs covering their fixed spending and loan tranches.

The interventions that Staikouras and Labor Minister Kostis Hatzidakis announced include the extension of rent reductions and the special-purpose compensation, and an Easter handout for workers on furlough that will be based on the monthly compensation of €534 euros.

Companies that remain shut will have the payment of their rearranged tax dues suspended, with the tranche being postponed to the end of their payment schemes. The measure concerns all businesses forced to shutter up to the end of March, including retail commerce, food service, tourism, culture, sports, transport and other sectors affected.

Closed enterprises will continue to be exempt from paying rent in April, with landlords getting 80 percent of their losses back from the state. Furloughed workers will continue to enjoy a 40% rental reduction for their main residence as well as for that of any of their children who are university students. Companies affected by the pandemic but still operating will also enjoy a 40% rental cut next month.

Staikouras said landlords stand to receive state compensation for their lost revenues in April concerning both February and March.

The April measures also include the suspension of the deadlines for any checks, bills of exchange etc for enterprises hurt by the pandemic by another 30 days for all dues up to April 30, 2021. There will be a similar extension of the deadline for the payment of value-added tax dues for check holders.