Greek Dev. Min. leaves open “window” for more installments in the repayment of subsidies

The possibility of repaying the reduced amount of the repayable advance in several installments is being considered by the government, as pointed out by the Minister of Development and Investment Mr. Adonis Georgiadis during the Board of Directors of the Athens Chamber of Crafts, held yesterday in the presence of dozens of businessmen – members .

Specifically, Mr. Georgiadis, after the submission of the request of the President of the Chamber Mr. Pavlos Ravanis for an additional reduction of the refundable amount of the repayable advance payment to small crafts establishments, clarified that it is not possible to give an additional “haircut”, but the increase in the number of repayment installments of government loans received has been put on the table. “It is a primary need to really increase the financing of companies, both through the banking system and the structural funds,” said Mr. Ravanis.

It is noted that the repayable amount that companies and freelancers are asked to pay, reaches about 3 billion euros, of which 2.3 billion euros are considered receivable. In total, companies received 8.3 billion euros. According to the framework legislated by the government and in force, those who received repayable advances in any of the 7 cycles, are obliged to return a part of them, which arises after discounts, in 60 monthly installments, starting from June 30, 2022 and following. Also, an additional discount of 15% is provided to those who return the amount due in a lump sum, by March 31, 2022.

The President of the Chamber Pavlos Ravanis pointed out that, after the latest geopolitical developments, in the shadow of a war that the international community failed to prevent, the need for immediate and courageous decisions is even more urgent, in order to maintain the market liquidity and protect the productive sector from the new wave of price increases and inflation.

Requests

The discussion was attended by a number of artisans and small and medium-sized businesses, which are severely affected by the new energy crisis, asking for additional support measures and raising important demands such as:

Reduction of refund rate or more installments in the Refundable deposit
Reduction or abolition of ETMEAR (special emission reduction fee for gaseous pollutants)
Unsecured bank account for craft companies
Special purpose bank for SMEs
Reduction of tax advance
Unsubscribe from POS.
Sectoral request from hairdressers for banning the purchase of professional products in the retail market
Sectoral request from car repair shops: to speed up the Digital Register of Vehicle Repair and Maintenance Workshops and to finance the sector, for training in Electrical mobility.

The Minister of Development stated that he is available for further cooperation and analysis of the problems faced by small and medium-sized enterprises by sector, in order to find feasible solutions in the financial framework.