Gov’t to Launch Fresh Measures as COVID-19 Spillover Effect Extends - ENA English
Gov’t to Launch Fresh Measures as COVID-19 Spillover Effect Extends
Addis Ababa, May 14/2020(ENA) Ethiopia will continue to assess the economic impact of coronavirus situation and introduce more measures as the spillover effects continue to threaten the country, according to Office of the Prime Minister.
In view of the disruption caused by COVID-19, the government will take fresh measures that enable to lessen the socio-economic impact of the pandemic.
The government has been taking several measures to protecting livelihoods of the people, including avoiding layoff of employees, encouraging donations towards COVID-19 response, ensuring economic resilience and quick recovery.
As part of the recent measures being taken on the catastrophic effect of coronavirus, the government has allocated 5 billion Birr preliminary budget for emergency expenditure, it was recalled.
Moreover, taxes owed between 2005 and 2014 fiscal years and interests as well as penalties are totally scrapped; while those from 2015 and 2018 are deducted and interests as well as penalties canceled.
On March and April, the government also allocated 21billion support for banks to address the expected liquidity shortage from expected lower deposits and loan collection, and to make available working capital for sectors impacted by the COVID-19 pandemic, it was indicated.
Accordingly, the office said those measures being undertaken aims to ensure quick economic recovery from the adverse effects of COVID-19 induced economic crisis and the government will continue assess it.