Finance Minister Christos Staikouras announced the financial measures of the Greek government that aim at tackling the economic effects caused by the coronavirus crisis.

According to him, the government’s initiative has four pillars:

1st Pillar: Citizens’ information initiatives.

2nd Pillar: Initiatives to strengthen the public health system.

3rd Pillar: Initiatives at national level to tackle the negative effects of virus spreading on the growth of the economy, public finances and the real economy.

4th Pillar: Initiatives at European level to take timely coordinated European action.

The economic measures decided are:

– The suspension of VAT payment for four months in sectors and areas where activities are suspended for 10 days by the government order.

– Suspension of confirmed debts payable at the end of March for 4 months.

At the same time, the Finance Minister referred to corresponding measures concerning the payment of contributions.

The minister announced “the establishment of a monitoring mechanism based on the available data from various sources in order to intervene early in the sectors and areas where there is a significant decline in economic activity”.