The new financial instruments, which will succeed the existing support measures, will be gradually implemented after Easter., such as repayable advances completing their cycle. Support measures will be implemented for other sectors of the economy besides catering.
At the same time, the expenditure subsidy program will "run", while at the end of May the first installments of business loan subsidy will be given under the "Bridge 2" program. At the same time, targeted Programs will be implemented to enhance the employment of the leading employees in the field of tourism., which will be announced in the near future.
Contract suspensions and reduced rents will not be horizontal, but will apply to those businesses that remain closed and subject to strict conditions for certain other sectors of the economy.
Government will is in the first month of market reopening, to substantially support businesses, to reduce wage costs, but also their fixed costs, to be able to return to normalcy faster.
particularly, companies will benefit in the next period from the following Programs:
1. Focus program: In the first ten days of May, the platform for the special strengthening of the catering with 330 million. euro, from which it is estimated that they will benefit approximately 35.000 industry companies, while the corresponding subsidy framework for Tourism will be clarified, with about 350 million. euro, but also for other industries such as gyms and playgrounds.
2. Increased special purpose compensation: After the Refundable payments the payment will start 130 million. euros in approx 100.000 branch companies, to which restrictive measures apply in April. These companies employ up to 50 employees and are entitled to increased special purpose compensation, without taking into account the criterion of turnover reduction.
The compensation is as follows:
– 1.000 euros for companies that employ 0 to 5 employees.
– 2.000 euros for companies that employ 6 to 20 employees.
– 4.000 euros for companies that employ 21 to 50 employees.
This compensation is non-refundable, is tax free, inseparable and unrestricted in the hands of the State or third parties, not subject to any reservation, end or contribution, is not committed and is not offset by confirmed debts to the tax administration and the State in general, the municipalities, the regions, insurance funds or credit institutions.
3. Fixed expenditure subsidy: By the end of May he will "run" with 500 million. euro the subsidy of companies with employees, through credit that can be used to repay future tax and insurance liabilities. The aid will be calculated as a percentage of the fixed costs incurred within it 2020 and have not been covered by state aid. The aid rate will vary based on the drop in turnover, as it will be higher for companies that had a drop in turnover above it 60%. The companies that will be eligible should belong to the affected sectors, employ at least one full-time dependent employee, have submitted all periodic VAT returns and E3 returns for the period required, to show a loss before taxes at least 30% or in relation to their gross income, or in relation to their total costs for 2020, show a decrease in turnover at least 30% the 2020 in relation to 2019.
4. Bridge 2: The program will subsidize the installments of business loans and loans that freelancers have to banks for 8 months.
The grant will start from 90% of the installment for consistent businesses and will be reduced to 70% during the 8-month period, while for those companies that had loans in arrears, the subsidy will start from 80% and will be reduced to 60%. The subsidy for business loans that have been terminated by the banks will be significantly reduced, for which it will start from 50% and will be reduced to 30%. A condition for these companies is that their loans have not been repaid before December 31st 2018.