ECONOMY

Extension of rent reduction into December

extension-of-rent-reduction-into-december

There is a strong possibility the 40% mandatory rent reduction for companies hurt by the pandemic measures will be extended into December too.

Sources say the market and enterprises could gradually start emerging from the lockdown next month, and the government is planning to lengthen the rent cut for another month to help those that will have to remain closed for the next 10-12 days.

There will also be an extension of the 50% compensation by the state of landlords’ lost revenues. A clause to that effect will be tabled in Parliament on Wednesday or Thursday, along with all other government support measures.