Government announces plan to strengthen the economy and labor

Government announces plan to strengthen the economy and labor

Prime Minister Kyriakos Mitsotakis, in a televised speech on Wednesday, announced the government’s plan for the economy, labor and tourism, which he described as a bridge program for the coming months and a package intended to boost the economy and labor, amounting to 24 billion euros.

After thanking the citizens for the sense of responsibility they have shown so far, Mr. Mitsotakis said that we are at the end of the first cycle of the confrontation with the pandemic, but also at the starting point of a new period, focusing on the economy and society and he added that the package of measures the government will implement, has a social stamp and with an emphasis on development.

The intervention program will be based on three pillars: job support, tax cuts and boosting entrepreneurship. Thus, the employment subsidy regime continues in June and July in the sectors that have been hit hardest, with a basic security margin, while all unemployment benefits are extended.

Also, VAT will be reduced on public transport fares, coffee products and non-alcoholic beverages. Domestic tourism support programs will be announced soon concerning the more vulnerable citizens. In order to stimulate entrepreneurship, the Business Guarantee Fund, amounting to 7 billion, will be activated in 2020 and the payments of bankruptcies and loan installments that companies have in specific sectors, are suspended.

 

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