Murcian Government Props up Hospitality Sector with 37 Million Euros

Murcian Government Props up Hospitality Sector with 37 Million Euros
The President of the Region, Fernando López Miras. image: Twitter

Murcian Government allocates 37 Million Euros to cover two weeks of losses in the hospitality industry.

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The head of the Murcian Government, Fernando López Miras, signed the rescue plan for the sector to help over 8,000 companies. The Government of Murcia is going to allocate 37 million euros to alleviate the losses by bars and restaurants in the community. These losses accumulated over the two weeks of forced closure to avoid coronavirus infections. The plan is the “most ambitious and largest plan in all of Spain”, according to its president, Fernando López Miras.

After signing the “rescue” agreement with the president of the regional employer’s association, Mira detailed that it will benefit 8,000 businesses and save 39,000 direct jobs using 15 million euros in non-refundable aid to cover expenses for supplies, perishables, rents and local taxes.

Another 10 million euros will be offered to them by the bank with the interests covered by the Government, 2 million euros will be used to pay those interests of the loans that the business owners have already subscribed to and 3 million euros will be to pay the self-employed contributions to the Social Security.

Another 5 million euros previously released for current expenses was already being used up and a free advisory service for arbitration, financial management and rentals will soon be enabled.

Miras stressed that the sector also deserves the support of the central government, with the suspension of payment of fees to Social Security, exemption from state taxes and a reduction of the value-added tax to 4%. Support for the sector of cocktail bars, discos and restaurants is also underway, he said.

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