Pressing need to support SME’s after the pandemic too

Statement by AKEL C.C. Spokesperson Stefanos Stefanou

24th May 2021, AKEL C.C. Press Office, Nicosia

The danger of small and medium-sized enterprises suffering mass closures in the coming months is more than evident. Thousands of small businesses, self-employed and shopkeepers are in danger of disappearing from the country’s economic map. The situation with thousands of SME’s was difficult in any case, given that the DISY government’s policies favor big businesses and powerful interests. The pandemic made their situation even more difficult.

As numerous studies have shown, SME’s will continue even after the end of the pandemic to face sustainability problems due to their over-indebtedness, liquidity problems due to inaccessibility of borrowing, accumulated rent problems and non-performing loans.

Continued and targeted support, as well as complementary measures, to provide support are demanded after the pandemic so that thousands of SME’s can survive. The problem of rents, evictions and foreclosures need to be addressed. These are all problems which the government, with its refusal to seriously look at and promote solutions, consolidates and reproduces.

Sunday’s election will determine whether DISY and its satellite forces will continue to be in a position to pass legislation at the behest of the banks and powerful financial interests or whether AKEL’s assertions for small and medium-sized enterprises and their future will be implemented.

On Sunday we choose and vote. There is only one choice: Vote for AKEL to protect and strengthen SME’s, working people and the vulnerable groups of the population.