ECONOMY

Businesses closing until Jan. 11 will not pay month’s rent

businesses-closing-until-jan-11-will-not-pay-month-amp-8217-s-rent

Shops and businesses that will remain closed until January 11 will not have to pay rent for the month of January, the Ministry of Finance announced on Saturday.

The ministry decision came after the government announced a seven-day closure of all businesses that were allowed to open during the holidays.

It concerns businesses in the retail sector, the arts, sports, tourism, transportation services, as well as hairdressers and beauty salons.

An 80 pct of the agreed rent will be compensated to legal owners of commercial premises from the state budget.

In the case of legal entities who own commercial properties, the compensation is set to 60 pct, the ministry added.