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Government proposes extensive economic measures to minimise the impact of the coronavirus epidemic

Government Communications Department
Publication date 20.3.2020 12.00 | Published in English on 20.3.2020 at 12.57
Press release 158

The Government has agreed on a comprehensive package to safeguard jobs and livelihoods and ease the economic pressure on businesses. According to the Government’s estimate, the overall scale of the measures will be approximately EUR 15 billion.

The first supplementary budget will safeguard the resources of the authorities and increase the appropriations allocated to companies. The scope of the supplementary budget will be around EUR 400 million. Further supplementary budgets will be introduced over the coming weeks.

The Government will implement most of the proposals put forward yesterday by collective organisations in the manner proposed by the organisations. The measures outlined in the organisations’ proposals aim to secure, in particular, the livelihoods of people who are laid off or lose their jobs. They will also make it easier for companies to adapt to the difficult situation. In addition to the measures proposed by the collective organisations, the Government will safeguard the livelihoods of entrepreneurs and freelancers, regardless of their form of enterprise, through unemployment security.

Companies’ financing will be secured through a number of billion-euro measures. New direct payments will also be introduced. The purpose of these measures is to ensure the liquidity of companies during the crisis and to prevent bankruptcies. The measures will be in place in all sectors.

Inquiries: Joonas Rahkola, Special Adviser to the Prime Minister in Economic Policy Affairs, tel. +358 295 160998