Greece Seeking Ways to Support F&B Services Providers

Hard hit by the coronavirus pandemic, Greek restauranteurs are calling on the government to provide liquidity and support in order for businesses to remain above water until they are allowed to re-open.

In a meeting with Greek Finance Minister Christos Staikouras, the president of the Panhellenic Federation of Restaurants and Related Professions (POESE), George Kavvathas requested besides liquidity injections a reduction of VAT to 6 percent and flexibility with regard to pandemic-related debts, allowing sector professionals to enter the 120-instalment program.

Kavvathas also called for e support for enterprises such as nightclubs, bars, concert/event halls and catering services that have suffered a massive blow remaining closed for nearly a year. 

Staikouras pledged to take additional actions to back the sector adding that the government “acknowledges the specifics of the industry and will take additional initiatives to support it”.

Indicatively, according to the Hellenic Statistical Authority (ELSTAT), Q3 2020 turnover in food and beverage service (F&B) activities came to 1.58 billion euros down by 31.2 percent against Q3 2019 from 2.29 billion euros with Karpathos posting the greatest Q3 losses against 2019 down by 69.5 percent with the smallest decrease (0.8 percent) recorded in Serres.