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PM Rama announces financial support package in view of COVID-19 pandemic

Politiko 20 Mars 2020, 12:23
PM Rama announces financial support package in view of COVID-19 pandemic

In a speech delivered on Thursday late afternoon, Prime Minister unveiled a seven-point financial support package to tackle the COVID-19 emergency, which he labelled as Plan A for managing this crisis. As per the plan unveiled by Rama: ALL2.5bln ($25mln) to be allocated to the Ministry of Health and Social Care for medical equipment and support to the health personnel; ALL10bln ($100mln) through the instrument of a sovereign guarantee for companies that have objective difficulties in paying their employees’ salaries; ALL6.5bln ($65mln) for people in need, small businesses and potential unemployment; ALL2bln ($20mln) to the Ministry of Defence for humanitarian support operations; ALL1bln ($10mln) as a reserve fund to the Council of Ministers for any unforeseen emergencies; scrapping of late payment fees for electricity bills up to ALL15bln ($150mln) to the benefit of 211,024 subscribers; rescheduling income tax for businesses with turnover of AL2-14mln ($20,000-140,000) from the second half of 2020 and onwards.

Rama said that the Ministers’ and MPs’ salaries will be cut in half as part of this support package, adding that other high officials may do the same at their will. Rama thanked the President for his supportive role so far. This support package will be approved today in the form of a normative act revising the 2020 state budget.

In a TV interview in the evening, Rama said that should the COVID-19 emergency situation last more than three months (the time period the financial support package is supposed to cover), Albania will rely on Turkish financial support: “Our needs’ list is already on President Erdogan’s table.”

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