With article 4 of the amendment to the Draft Law of the Ministry of Labor and Social Security, a Supplementary Budget of 600 million euros was tabled yesterday, of which 450 million euros for the National Public Investment Program and 150 million euros for the regular Budget, for to cover first aid, state aid and rural disaster relief.

The Deputy Minister of National Economy and Finance, Mr. Thanos Petralias, during his presentation to the Parliament, pointed out that “the total cost of compensation is expected to be significantly higher, over 1 billion euros, and will be burdened in the following years, as the buildings will be repaired which suffered damage and will be compensated by the state aid.

This money is in addition to what is required for infrastructure restoration projects that will be financed primarily by co-financed tools, such as the NSRF and the Recovery Fund.”

Mr. Petralias stated that: “The appropriations of the supplementary Budget are used for measures such as:

  1. Aid through arogi.gov.gr for basic needs, damage to household goods and simple repair work up to 6,600 euros.
  2. The first aid against housing assistance for damaged buildings up to 10,000 euros and then the housing assistance of 80% of the cost of repairing or reconstructing the buildings.
  3. The rent or cohabitation subsidy from 300 to 500 euros per month.
  4. The suspension of employment contracts with special compensation to the employees of the affected companies.
  5. The first aid against state aid to affected businesses of up to 4,000 euros and then the compensation of 70% of the estimated damage to assets of the business such as mechanical equipment, raw materials, goods.
  6. The compensations to affected agricultural holdings which includes both compensation of 70% of the estimated damage to assets of the agricultural holding such as mechanical equipment, land capital, raw materials and goods, as well as the compensation of the current production through ELGA”.

It is noted that as of yesterday afternoon, 22,589 finalized and 4,840 applications for state aid were already registered.

“Reparations are proceeding at a rapid pace, which requires the immediate reinforcement of the relevant credits” added Mr. Petralias.