ECONOMY

State support for sectors with losses

state-support-for-sectors-with-losses

Commercial enterprises that suffer the greatest loss in turnover this holiday season will receive most of the fifth and sixth phases of the “Deposit To Be Returned” after Christmas, Development Minister Adonis Georgiadis promised on Saturday, referring to the cheap state loans program for entrepreneurs and the self-employed.

“The businesses that experience the greatest loss in turnover will receive the lion’s share from the resources of the Deposits To Be Returned,” Georgiadis told Skai TV on Saturday, adding that there will be further support for enterprises after the pandemic.

“With the new Partnership Agreement for the Development Framework (ESPA) and the resources from the Next Generation EU fund we are already examining a program for the payment of interest of performing business loans,” he announced.

Georgiadis confirmed that if the click-and-collect system for retail companies results in congestion, it will be stopped immediately, saying it is a measure to ease the pressure on couriers while helping retailers to recover some of their holiday losses. He also stressed toy sales will continue to be banned from supermarkets, so as to assist toy stores that see 30% of their annual turnover in December.