Statements on the Budget Extension and Increase

Al. Charitsis referred to the extensions of three of the four actions announced months ago. He said that in these programs, in addition to the extension, the corresponding budget is also increased.

As an example, he cited the action to upgrade micro and small enterprises with a budget of EUR 78 million. euros, which it rises to 110 million. euros. An increase was also decided for the budget of the action "Support for small and medium-sized tourism enterprises". The initial budget of the action was EUR 50 million. euro while after two increases it now amounts to at 90 million euros.

In order to facilitate the receipt of aid to those involved in these actions, Mr. Charitsis said that the Ministry of Economy & Development has entered into a relevant agreement with the Deposits and Loans Fund (a relevant ministerial decision is expected) so that the disbursement of the advance payment, i.e. 40% of the aid, is made without the obligation of the beneficiary to pay an equal amount of guarantee letter.