Businesses and employees continue to have the opportunity to receive state support during the Covid-19 pandemic

Support measures continue to be provided in the country to support businesses and employees during the Covid-19 situation. By 15 June, more than EUR 149 million had already been paid in downtime support and wage subsidies. Meanwhile, grants to compensate for a decline in cash flow for working capital had been awarded, based on 28,975 applications from businesses, in the amount of more than EUR 365 million.

The period for providing support to companies affected by the Covid-19 crisis to ensure the flow of working capital has been extended by one month. To ensure uninterrupted payment of support to taxpayers, an additional EUR 75 million was allocated for this purpose on Tuesday, 15 June.

Meanwhile, the state budget programme “Funds for Unforeseen Circumstances” will be increased by a further EUR 300 million. As a result, the planned amount for unforeseen circumstances will reach EUR 1.62 billion. The funding will be allocated to the health, education, business and other sectors affected by Covid-19.

Businesses throughout Latvia may apply for state support in the form of a working-capital grant. Applications for support for June may be submitted until 15 July 2021, while applications for 2020 and for January, February, March, April and May 2021 may be submitted until 15 June 2021. Downtime support and wage subsidies also continue to be paid to help preserve jobs and provide people with the means of subsistence.

Taking into account epidemiologists’ assessment of the risks of Covid-19 transmission, safety measures have been established in Latvia. At the same time, a number of short- and long-term support solutions have also been developed for both employees and businesses, as well as for sectors directly affected by the Covid-19 situation and the introduction of safety measures. A summary of the available support options is available on the website of the Ministry of Finance.

Author:

Ministry of Finance