“Currently, following the information provided by the State Immunisation Council and experts on the epidemiological situation in relation to the spread of the Covid-19 virus, there are no reasons for considering the introduction of any restrictions in the near future. With reference to advice from experts, it is important to take care of own health and to comply with the hygiene requirements that have been put in place so far,” the Minister of Economics Ilze Indriksone says.
At the same time, the Ministry of Economics (ME) has prepared a concept for entrepreneurs for action guidelines for overcoming the potential future Covid-19 wave. ME urges to respect the principle of equal treatment and fair competition so that the prescribed epidemiological safety measures are understandable to each sector and they are not in conflict, as well as are proportionate to the epidemiological security measures in neighbouring countries in order to ensure equal competition.
We should not stop business, but we should seek safer solutions for continuing operations. In preparation for the next possible outbreak of the pandemic, it is important not only to follow the current epidemiological situation regularly, but also to take into account the experience gained during previous waves of Covid-19 and to focus on safety measures with as little economic impact as possible, so that there is no basis for restricting business,” the Minister of Economics says.
In view of the current geopolitical situation and economic development trends, it is also necessary to provide for clear action on the part of the state in a timely manner as a result of the onset of epidemiological restrictions. The business guidelines prepared by the ME for overcoming the potential Covid-19 wave also provide for the renewal of Covid-19 support measures for economic operators, whose activities will be limited if the Cabinet of Ministers decides on this. The guidelines developed by the ME have also been discussed with the Ministry of Health.
ME will encourage the renewal of wage subsidy aid to compensate partial wage payments to employer’s employees, self-employed people, micro-business owners or individual undertakings, as well as the renewal of grant support to provide working capital. The primary objective of the aid will be to provide support to economic operators whose financial stability and capacity to fulfil their obligations are threatened by the restrictions to stop the spread of the Covid-19 infection, which will result in a prohibition to perform their economic activity or its limitation.
During the meeting of the Economy Council, the Minister of Economics Ilze Indriksone discussed with entrepreneurs and representatives of organisations representing the largest businesses preparations for the future Covid-19 wave and the proposal of the Ministry of Economics regarding support measures, if necessary.
The Minister emphasised that she appreciated the willingness of entrepreneurs to introduce safety measures and the high sense of responsibility to protect their employees, customers and society, if necessary. Representatives of organisations representing the interests of businesses appreciated the new proposal prepared by ME, as well as the state support provided so far to the economic operators, whose activities were affected by the epidemiological restrictions due to Covid-19.
Support mechanisms developed so far in a timely manner have made it possible to prevent the risks associated with the provision of employees in downtime or partial downtime with means of subsistence or the provision of working capital to meet their existing obligations in times of crisis. At the same time, support solutions were proactively adapted to the existing situation and the epidemiological restrictions imposed. The data of the State Employment Agency show that the potential number of unemployed due to Covid-19 restrictions could have been at least twice as high, if there was no state support to overcome the Covid-19 crisis,” the Minister of Economic indicates.
This Covid-19 support has been essential not only for the viability of economic operators; it has also been an instrument for returning to economic circulation and reducing the risks of rising unemployment, as well as an incentive to reduce the shadow economy.