RIGA - A number of support mechanisms that are currently being used to mitigate the Covid-19 pandemic's impact on Latvia's people and businesses might be used also in 2021.
Today, Finance Minister Janis Reirs (New Unity) and his workgroup for business and employee support reviewed ministries' proposals aimed to improve the Covid-19 legislation. The ministries submitted proposals for the special support mechanisms and expenses, directly related to the curbing of the virus.
One of the proposals calls for putting up the deadline by which businesses can request loan deferment by half a year. Under the existing regulation, the deadline is the end of 2020, but the proposal is to move the deadline to June 30, 2021.
It has also been proposed to postpone the deadline by which central and local government authorities can grant rent discounts to businesses, associations and foundations by six months to June 30, 2021.
The temporary amendments allowing employers to pay their employees 70 percent of their wages during the downtime could be extended to June 30, 2021, and recipients of government loans could be allowed to seek a three-year deferment also in 2021.
These and several other support measures will remain available to individuals and businesses throughout the first half of 2021 if they are approved by the Cabinet of Ministers and Saeima.