Support measures until April – What about Christmas Gift and Bonus



Support measures to mitigate the economic impact by April have been planned by the Ministry of Finance and with this assumption, according to competent sources, the 2021 budget was submitted to Parliament on Friday, which provides for a recession of more than 10% and recovery 4 , 5% -5% next year. Budget data show pressure on public finances with the general government deficit at 13.4 billion euros in ten months, the primary deficit at 9.056 billion euros, expenditures at 51 , 8 billion euros, while tax revenues are 6.052 billion euros behind at 35.564 billion euros. The financial staff reports that tax revenues in October decreased by 12.3% and moved better than in September, taking into account the circumstances, but expects a significant deterioration in revenue in the near future, which will be reflected in revenue data in 2020, which will be recorded in the submitted Budget. How and when the Christmas Gift will be paid Therefore, according to competent factors, the ministry is moving in the strategy of taking measures wisely until we get out of the health crisis that is expected to be from April. . In this context – in addition to the package that has already been announced – it is oriented towards the payment of an aid for vulnerable households and decisions are expected in the coming days. Although the beneficiaries have not been clarified yet, what government officials say is that crossroads will be made so that those who really need it can get the help and it will be paid before Christmas. According to government spokesman Stelios Petsas, “before Christmas, aid will be given to people who have not received state support through pandemic measures and are at the base of the income pyramid.” Regarding the Christmas Gift, its payment is expected on December 21 and the possibility of coverage by the public on the nominal salary is not considered, but on the basis of 534 euros. In the bill for the support of households and businesses affected by the three-week lockdown that will tabled in Parliament will include an amendment on unsecured checks. The amendment will provide for the “freezing” of the repayment of checks for 75 days, while other regulations will be included such as the extension of VAT to 6% for masks after the end of the year. The implementation of the 4th cycle of the Refundable Advance is in progress. and the following month of the 5th cycle with an expanded field of beneficiaries. In both rounds, 50% of the aid will not be returned to the State, while a total of 1.7 billion euros will be channeled into the real economy. It is noted that the provision of liquidity to businesses, through the Repayable Advance Payment, will exceed a total of 5 billion euros by the end of the year. According to the government, together with the financial tools of TEPIX II and the Guarantee Mechanism, the total “injection” of liquidity in the real economy is expected to exceed 11-12 billion euros. It should be noted that the information system “Ergani” opened in the afternoon on Sunday for the declarations of suspension of employment contracts for the month of November for the allowance of 800 euros. Payments of the special purpose compensation of 800 euros will be made for the employees who closed the company with a state order on November 27, while for those who have been affected by KAD on December 11. Employers of closed and affected companies can submit declarations of suspension of employment contracts of their employees: Expenditure in the 10 months The expenditure of the state budget for the period January – October 2020 amounted to 51,845 million euros and is increased by 7,668 million euros. (EUR 44,177 million). The main reasons for the discrepancy are: a) the cost of special purpose compensation due to the COVID-19 pandemic (employees and scientists) of about € 1,450 million, which was paid by the Ministry of Labor and Social Affairs (transfer category), b ) the cost of business support in the form of a repayable advance of approximately € 2,064 million paid by the Ministry of Finance (category of transfers), (c) the cost of an extraordinary grant to EFKA and EOPYY to cover backlogs of contributions due to the pandemic, amounting to 489 and 263 million euros respectively, d) the cost of a grant to EFKA for the retroactive amounts of pensioners amounting to 1,400 million euros, e) the increased outflows of PDE by 2,279 million euros, mainly due to expenditure on special purpose compensation for businesses and the self-employed amounting to EUR 494 million, on subsidizing interest on small and medium-sized enterprises loans of EUR 186 million for the measure of business support in the form of a repayable advance of EUR 997 million, for the TEPIX II action of EUR 768 million and for the establishment of a business guarantee fund due to the COVID-19 pandemic of EUR 1,000 million. euro and f) the increased interest payments by 181 million euros. 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