Chamber of SMEs says new financial package gives economic lifeline for the coming months

closed businesses

The Chamber of SMEs welcomes the new measures announced by the government to assist businesses hit by coronavirus situation. In a statement issued after Prime Minister Robert Abela announced the measures on Tuesday evening, the Chamber said that it welcomes the positive response to critical issues raised and the acceptance of its proposal for a number of economic sectors.

The Chamber of SMEs said that the measures should give the necessary lifeline for the coming months for businesses that are desperately in need and will give them the opportunity to retain their workforce.

In its statement, the Chamber noted the reality of the majority of sectors that have suffered a close to complete drop in business overnight.

“Whilst a number of these sectors have been asked to close their doors, others are still allowed to open with business levels standing at close to none,” said the Chamber of SMEs.

The Chamber has also emphasised that it needs greater support from all the banks through general moratoria for both businesses and individuals and revision of interest rates.

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