Joint communications by the Ministers of Finance Christos Staikouras, Development and Investment Adonis Georgiades and Labour and Social Affairs Mr. Yiannis Vroutsis for the second package of economic measures to address the effects of the spread of the coronavirus took place today, Wednesday, March 18, at 12.00 noon in the context of the coronavirus.

Announcements for financial measures of the Ministry of Finance in the context of the coronavirus

Economic measures worth a total value of two billion euros were announced by the Ministry of Finance to address the most urgent effects of the coronavirus pandemic on workers and businesses. At noon on Wednesday, the economic staff of the Ministry of Finance proceeded with the refinement of the Prime Minister's announcements of yesterday.

The new package of measures includes, inter alia:

• the suspension of payment of taxes and businesses horizontally in specific codes of activity that are drastically affected due to the spread of the coronavirus. It concerns March and if required an extension will be granted. For all businesses in these sectors, the payment of debts from March VAT certificates and certified debts to tax offices or control centers are suspended for 4 months without interest and surcharges. It is emphasized that a prerequisite for the suspension of tax and insurance obligations is the maintenance of positions of action. According to Mr. Staikoura the operation of 200,000 businesses with 600,000 employees has been suspended by state order. At the same time, 100,000 businesses that were not closed by state order are drastically affected and will be included in the measure.
• The reduced VAT of 6% from 24% of self-protection products such as masks, antiseptics, wipes, etc.
• compensation of 800 euros at the beginning of April to workers whose employment contract is suspended. According to Mr. Staikoura this concerns about 500,000 employees at a cost of 400,000,000 euros. For these employees, the payment of March tax obligations is suspended for four months
• the suspension for four months of payment of tax obligations in March for the self-employed and sole proprietorships operating in sectors that are drastically reduced due to coronavirus
• for businesses that compulsorily cease activities and for employees for whom the contract is suspended, and in the case of a first residence, it will be provided that they will pay 60% of the property rent in case they rent for the two months of March-April. For the owners of the above properties, the suspension of payment of obligations for 4 months is provided
• "ENFIA" 2020 will build on the previous regime as the appraisal exercise for the new objective ones is extended and the new objective ones will apply from the new year
• the refund by the AADE of all tax/control amounts up to 30,000 euros. Between 25 February and 23 March, has been repaid 218 million euro.

Statements by Mr. Stakouras on banks' assistance and NSRF

Mr Staikouras also said that banks should contribute to this effort, recalling that banks suspend the payment of loans for consistent businesses until September. "They need to make other interventions," the finance minister added. According to him, bank branches by today's standards are not closing but the Hellenic Bank Association (HBA) will issue an announcement limiting physical transactions.

As the Minister of Finance Christos Staikouras clarified, this The EUR 2 billion package of measures is a major step forward. it will be possible to repeat every subsequent month an extension of the restrictive measures, and will be complemented by other interventions of €1.8 billion. euro through NSRF actions.

Announcements for financial measures of the Ministry of Development and Investments in the context of the coronavirus

On his part, the Minister of Development and Investments, Mr. Adonis Georgiadis He pointed out that "the employer undertakes to maintain the job and does not dismiss and the employee undertakes to adapt and have tolerance. The state undertakes the task of properly managing the crisis. We must all go through the crisis together and with the costs shared."

As far as business support is concerned, the Minister of Development spoke of the provision of working capital of EUR 3 billion. € to small and medium-sized enterprises, for new business loans of € 2 billion and for investment loans of € 500 million.

Announcements for Economic measures of the Ministry of Labor in the context of the coronavirus

Specifying the measures of the Ministry of Labour, Yiannis Vroutsis He said there is an explicit ban on dismissal in businesses affected by the coronavirus. "A prerequisite for businesses to receive support is that they do not make redundancies. Those who do are excluded. If there are layoffs, they will be declared null and void," mr. Vroutsis.

At the same time, it announced the full insurance coverage of employees whose contracts are suspended.

He also said about the unemployed that the unemployment benefit is extended for two months, if this expires by 31 March for freelancers that insurance contributions are suspended for the month of February and for three months without interest and surcharges, and for entrepreneurs that insurance contributions are suspended for the month of February and for three months.