Businesses affected by COVID-19 to receive financial support

(MENAFN- AzerNews) By Ayya Lmahamad

The Azerbaijani government will provide financial support to business entities working in economic spheres affected by the COVID-19 in the period of August and September as part of the next stage of financial support program, the Ministry of Economy reported on August 5.

The financial support will be paid in equal installments in two phases, covering August and September.

Thus, taxpayers working in the areas affected by the pandemic who received financial support and have not significantly reduced the number of employees, will receive financial support in the amount of a monthly salary based on the number of employees listed on July 1.

Moreover, micro-entrepreneurs, who received a lump-sum payment of AZN 250 ($147) in the first stage, will be reissued a lump-sum aid in the same amount.

Taxpayers who received the support in the first phase of the financial support program do not need to reapply to receive payment. Taxpayers who did not received financial support previously, may apply until August 10.

Moreover, on August 7, Economy Minister Mikhail Jabbarov will hold an online meeting with entrepreneurs to discuss activities in the new conditions of pandemic, ways to eliminate negative impact of it on business, listen to suggestions from the private sector and give answers to questions.

Some 147,613 taxpayers affected by COVID-19 in Azerbaijan applied for state support as of July 30.

The applicants to the financial support program include 29,062 taxpayers affected by the coronavirus pandemic who need to pay for the payment of a certain part of the salary to employees and 118,551 private (micro) entrepreneurs.

To date, the volume of financial support on the approved appeals as payment of part of salaries to employees has amounted to AZN 99.13 million ($58.3M), of which the funds envisaged for payment on the second stage amounted to AZN 49.56 million ($29.1M). The volume of financial support of the micro- entrepreneurs on the approved appeals is AZN 63.6 million ($37.4M).


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