Breaking News

22 Covid cases 24 July, 9 hospitalised, 3 in ICU, 101 home monitored, 2,617 recoveries, 33 deaths, 156 incidence rate, 63% eligible population vaccinated

Monaco declares €50 million economic package

Monaco declares €50 million economic package

By Cassandra Tanti - March 16, 2020

The Monaco Government has announced that it will release €50 million to counteract the impact of the Covid-19 crisis.

Minister of Finance and Economy Jean Castellini announced on Monday afternoon that the government is applying the same offensive measures to the economy that it is applying to the health of citizens, freeing up €50 million euros in the budget for companies who find themselves in financial difficulty.

“Our goal is to prevent bankruptcies by relieving the cash flow of troubled businesses,” said the minister.

The announcement follows other economic measures already declared by the government, including the deferral of VAT payments for two months, assistance for partial or total temporary unemployment, the improvement of bank loans or zero-rate loans granted by banks with interest to be paid by the State, and the establishment of a guarantee fund for loans granted, up from 65% to 100%.

Rent charges for businesses will also be delayed for two months or more.

The Prince’s Government has strengthened its request for employers to adopt teleworking in the Principality, saying that those who refuse to adopt the measure will be asked to justify their decision.

 

shares
SHARE
Previous articleGovernment warns against anti-inflammatory drugs
Next articleSerge Telle tests positive for Covid-19

daily

July 22, 2021 | Business & Finance

Construction at centre of MEB meeting with Quebec

Stephanie Horsman

The Monaco Economic Board has met with a Quebec delegation for a conference highlighting the latest responsible construction trends being employed in the Principality.

0
July 21, 2021 | Business & Finance

Artcurial car auction pulls in €6.5 million

Cassandra Tanti

A 1968 Lamborghini Miura P400 took top honours at the Artcurial Motorcars car auction at the Hôtel Hermitage this week, selling for €977,400 to a Monegasque collector.

0
Stephanie Horsman

Sellier Knightsbridge has announced the upcoming opening of a Monaco location, a first for the luxe pre-loved retailer outside of the UK.  

0
July 20, 2021 | Business & Finance

Free use of public spaces to continue

Stephanie Horsman

The government is allowing shops and restaurants to expand their services on to terraces free of charge through the month of September to help boost summer trade.

0