Planning the post-crisis recovery

Tax reductions and liquidity supply to enterprises are at the core of the package of financial measures the government is planning to implement when the coronavirus pandemic is put under control. The aim is to avoid the scenario painted by Greek and foreign analysts of a major contraction of gross domestic product this year.

The measures will include the reduction of corporate income tax to 20 percent, the cutting of social security contributions by two percentage points and the slashing of tax deposits, which for tourism enterprises will go down to 50 percent.

Other plans for boosting the tourism sector are the reduction of levies and value-added tax on air transport, on accommodation to 6 percent, on food services to 13 percent and on accommodation in the second half of the year.

In this battle the government will use all financing tools at its disposal as...