Plan sees more tranches for repaying debts to state

Finance Minister Christos Staikouras on Thursday unveiled a plan expanding the number of tranches individuals, self-employed and legal entities impacted by the coronavirus pandemic from March 2020 until the present will be allowed to repay their debts to the state.

The finance minister said the plan envisaged raising the number of interest-free monthly tranches from 24 to 36 and the number of tranches with an interest rate of 2.5% from 48 to 72.

Staikouras said this was a generous and significant new plan that will increase the range of those potentially eligible to apply after having been harmed by the pandemic.