Staikouras: Additional support package for catering and tourism.

Greece Greece

A network of support measures for the catering and tourism sectors with additional financial tools, is being considered by the Ministry of Finance in cooperation with the Ministry of Development. This was stated by the Minister of Finance, Christos Staikouras, leaving open the possibility of extending these support measures to other sectors if the possibilities exist.

Speaking on SKAI radio, Mr. Staikouras estimated, moreover, that tourism will move this year to about double levels from 2020 and will reach 50% in 2019.

According to the minister, each week of the current lockdown costs about 750 million euros. He stressed that it is important to pursue a responsible economic policy with fiscal flexibility but not derailment, so that the country can borrow cheaply. He added, in fact, that the ministry has already announced measures of 2.5 billion euros this year to support the economy, noting that this bill will grow.

In this context, he warned that the deficit and debt will increase this year and wants attention to the markets. However, he described as very encouraging the fact that 20 billion euros in deposits have been returned to the banks, of which 10 billion euros come from individuals.

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