Government prepared even for ‘most extreme’ pandemic scenario, FinMin says

The government has set aside more than 4 billion euros as part of a contingency plan to deal with the economic fallout from a serious resurgence of coronavirus infections in the second half of the year, Finance Minister Christos Staikouras said on Friday.

“We are prepared, at any given moment, even for the most extreme scenario,” he told state broadcaster ERT.

The ministry, Staikouras said, is preparing a raft of measures worth a total of 4.5 billion euros to support businesses and households in the event of new lockdowns and restrictions prompted by a spike in infections, possibly starting in the fall.

However, he stressed, the measures will not be horizontal but are designed to help only those sectors of the economy that are hit by the pandemic.

“In two years in government, we have bolstered the country’s coffers with 41 billion euros,” he said. 

“We have the fiscal leeway and this will be extended into 2022 as well. We will start coming into fiscal balance in 2022 and 2023,” Staikouras added.