First set of fiscal measures to address effects of coronavirus

The first set of fiscal measures to address the effects of coronavirus include tax and insurance benefits, among others, as well as additional expenditure for the health system, according to an announcement by the finance and labour ministries on Monday.

In addition, new possible initiatives were announced, which will form the second set of measures by the relevant ministries, and will be tabled for discussion in the European institutions over the coming days.

In the context of these initiatives, in order to prevent the spread of the virus and to strengthen health systems, as well as to stimulate liquidity and safeguard employment, the ministry has asked to exempt the fiscal impact of these measures from the existing framework, in line with the flexibility permitted during emergency situations under EU rules.

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