Total cost of support measures to deal with the pandemic at 5.9 bln euros in Q1

The total cost of support measures to deal with the pandemic in the first quarter of this year amounts to 5.9 billion euros so far, Finance Minister Christos Staikouras said on Monday, explaining that as monthly cost to the economy from the health crisis was now 2.4 billion euros, while due to the decisions for additional restrictive measures in the last two weeks, there was an additional monthly fiscal cost of 750 million euros.

“The finance ministry will be close to society for as long as is needed, but the available resources are not unlimited,” Staikouras said, adding, among other things, that the retail sector will be relieved of the obligation to pay rent in March and that there will be an extension of reduced VAT on coffee and non-alcoholic beverages, transport, cinemas and theatrical performances, transport and tourism, while he announced two more rounds of the “repayable advance” (6th and 7th) totalling 1.5 billion euros.