The Government of Andorra will inject €200 million into the country’s private sector

The Government of Andorra will inject €200 million into the country's private sector

The Cap de Govern, Xavier Espot gave said in his message yesterday night, that the Government will inject €200 million into the country’s private sector. This plan includes €60 million in zero interest loans to companies to cover operating expenses, including the payment of salaries. €70 million, also at zero interest, will be for mortgages and credit payments contracted by the companies.

In the coming days, the government will increase information to the self-employed and business owners letting them know the different help available.

In addition, the Government will pay the employer contributions of those companies whose activity was stopped by decree and those where they were only allowed to open when on duty. In the case of self-employed workers who have had to stop their activities, the Government will assume their entire dues.

Xavier Espot carried on: “We will also cover 100% of the salaries of healthcare workers infected by COVID19 or confined at home due to suspicion of contagion. Other workers will be treated as if they are off-sick due to a work accident, so they can receive better benefits.”

This relief programme will be complemented by significant discounts and exemptions from company rates for electricity distributors such as AndorraTelecom and FEDA.

In the case of companies that have been confined to minimum services or duty shifts, 80% of their rent will be deducted from their business premises leases.

Xavier Espot continued: “We don’t know for sure how long the stoppage will be and under what circumstances it will resume. If the present measures are found to be inadequate in the next few days, we will do more, and if more money is needed, we will find it. In the face of so many insecurities and uncertainties, tonight I can only offer you the certainty of my commitment to Andorra. And with my commitment, that of the whole Government”.

The government emphasized that self-employed people who have stopped work in accordance with the measures decreed by the Government, can request a temporary suspension of their levies. The Cabinet had now approved the qualified laws of States of Alert and States of Emergency. The text develops article 42 of the Constitution, which makes it possible to temporarily limit or suspend the exercise of certain fundamental human rights.

Accordind to the Government, if workers cannot work during this quarantine, 50% of their time will be counted as holidays and the rest as work.

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