Cyprus Minister of Finance outlines new package to support the economy
Cyprus Minister of Finance Constantinos Petrides presented on Thursday the second government package aiming to boost confidence and economic activity as Cyprus emerges from a two month lockdown to curb the spread of the coronavirus outbreak.
The new package follows the fist fiscal support measures amounting to €1.2 billion. The new package features direct grants to very small business and self employed persons with €100 million and interest subsidies for new loans for new loans for very small, small and medium and large corporations with liquidity shortage, with an estimated fiscal package of €200 million in four years, as well loans from the European Investment Bank (EIB) granted with state guarantees with a total value of €1.7 billion.
“We need to focus on boosting confidence in the market. After the lifting of restrictions, the market should recommence
(CNA)
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The new package follows the fist fiscal support measures amounting to €1.2 billion. The new package features direct grants to very small business and self employed persons with €100 million and interest subsidies for new loans for new loans for very small, small and medium and large corporations with liquidity shortage, with an estimated fiscal package of €200 million in four years, as well loans from the European Investment Bank (EIB) granted with state guarantees with a total value of €1.7 billion.
“We need to focus on boosting confidence in the market. After the lifting of restrictions, the market should recommence
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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