JUNE 15, 2020 – PRESS RELEASE: BUSINESSES ARE AT RISK OF DELAYS IN IMPLEMENTING THE EMERGENCY FISCAL PACKAGE

June 15, 2020 – Prolonged procedures and delays in disbursement of funds from the Fiscal Emergency Package for businesses are endangering financial stability and preventing the recovery of companies affected by COVID 19.

The Retail Association expresses concerns about the slow implementation of measures from the Fiscal Emergency Package related to the coverage of employees’ salaries and rents for facilities. The network states that these aids provided through this Package are essential for employees and businesses, therefore, delays in disbursement of funds are having negative effects and are making the situation unmanageable.

Employee support in sectors where activity has ceased as a result of restrictive measures, allowances to colleagues at points of sale who have been exposed to the virus on a daily basis, and covering part of the rent as business relief, are essential for guaranteeing the well-being of citizens and economic well-being.

Delays in disbursing these funds are minimizing the effect of the Package on the economy while increasing distrust in institutions and employee dissatisfaction.

In this way, Retail Association, reiterating the need for rapid action, requires the responsible institutions to intensify actions for the full implementation of the Fiscal Emergency Package in order to support businesses that are affected by COVID 19 and their employees, such as and pave the way for economic recovery.