ECONOMY

Measures get increasingly targeted

measures-get-increasingly-targeted

The government will support the economy with increasingly targeted measures, Alternate Finance Minister Thodoros Skylakakis stated on Friday, describing the next months’ landscape as determined by the course of the pandemic and the growing needs of the economy.

The strict targeting will be the main feature of the new measure for the subsidy for the fixed expenditure of enterprises, which will also have a rather limited budget – the original plans were for €400-500 million. This will go toward companies that still had losses even after the other support measures. The fact that the calculation will be based on their 2020 results means the measure will likely be delayed somewhat, ministry sources say.

Speaking on Skai TV, Skylakakis said the budget will continue to support the economy with tailor-made interventions so as to be able to finance the country’s exit from the crisis and the anticipated recovery without overstepping the fiscal line.

He went on to explain that the 2021 budget relied on the gradual reopening of the economy from mid-December, and not another lockdown.