At a time when Greece’s enterprises are desperate for liquidity, the government is failing to utilize financing tools it has at its disposal that are meant to give the local market a boost.
After months of delays in the announcement of the subsidy programs of the new European Commission-funded community support program, the Economy Ministry is now extending the deadline for the submission of subsidy applications until May. Judging by the number of applications submitted on the online platform of the Competitiveness program, demand to enter one of the four projects of the new financing program is huge.
There are problems in the absorption of the resources of the old framework (ESPA) as well. This concerns some 500 million euros that is still pending from the previous program and has not yet been paid out, even though the program officially ended in December.
At the same time, the investment incentives draft law that had been a major government pledge and could assist the enterprises, mainly through tax exemptions, appears to be gathering dust somewhere at the Economy Ministry.