The government is intervening effectively and with social justice to mitigate the economic and social consequences of the coronavirus pandemic, Finance Minister Christos Staikouras said in a statement announcing the new economic measures the government will take.

The issue is to spread a larger safety net to society, the minister stressed, who recommended calm and patience.

The new measures taken by the government cover 600,000 businesses, about 60% of the country’s employees of private companies, as well as 550,000 freelancers, self-employed and business owners.

In total, the suspensions of tax liabilities are over 2 billion euros, while special-purpose compensation and insurance coverage are also estimated at 2 billion euros. The financial cost of these measures exceeds the 3.5 billion euros.

Mr. Staikouras predicted that the Greek economy would go into recession and the damage would widen in the short term, which requires prudence and realism, far from demagogic outbursts.