Greek Finance Minister Christos Staikouras said the suspension of tax and social security obligations would be extended by 4 months if the coronavirus crisis continued.

In an interview to Skai TV about the economic impact of the Covid-19 pandemic and the measures the Greek government had implemented to mitigate the effects on the economy, Mr. Staikouras called on all citizens to adopt both an individual and a collective mind set.

Mr Staikouras added that the impact of the crisis on the economy would be more significant than the government had initially estimated.

“It will have a much deeper and more profound impact on the economy but they will be temporary,” the minister said.

He explained that Europe would revert from a growth of about +1 to a recession of -1, according to initial estimates.

“The results will be similar in Greece, the only difference being they will simply remain positive. We must act promptly and on a massive scale but to regress to past habits,” he said.

He added that priority has been given to the public health system, stressing that spending will exceed the budget.

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