Cabinet on Wednesday approved measures set to support the economy until October in light of the coronavirus pandemic with a budget of €150 million.

The four schemes offer wage subsidies to support employers in specific sectors impacted by COVID-19. Special attention is given to the tourism sector.

The % of employees that will be covered,% of Salary Subsidy and prerequisites vary according to the different plans.

1. Special Plan for Hotel Units and Tourist Accommodation
2. Special Financial Activity Plan related to the Tourism Industry or Financial Activities which are directly affected by Tourism or Financial Activities associated with Businesses that are subject to Mandatory Full Suspension
3. Special Plan for Businesses of Specific Financial Activities
4. Special Plan for Complete Suspension of Company Operations

For more details on the different plans: https://ciba-cy.org/the-five-new-plans-to-support-businesses-employees-…