Government announces € 2.5 billion Covid-19 support measures for businesses

Greek Finance Minister Christos Staikouras specified a series of measures aimed at alleviating businesses, freelance professionals, and single proprietors who were hit by the Covid-19 lockdown.

These include a haircut in the first three rounds of the repayable advance, which can reach up to 65% of the government loan, subsidy of fixed expenses in the form of offsets with future tax and insurance obligations, a subsidy of business loans, and transfer of installments in tax arrangements to the tax office and in the insurance funds, and a full March rent exemption for the affected businesses.

The total cost of the measures amounts to € 2.5 billion announced by the government to further support the real economy.