Díli, 14 october 2020(TATOLI)-President of the Republic of Timor-Leste Francisco Guterres Lú Olo has issued the measures for the economic recovery plan to maintain the economic activity in the country.
According to the press release the measure implemented for this support is a guide from the Ministry of Coordinator and Economics, with assistance and involvement in the public relevant work.
It is also highlighted that, the support is granted to private businesses, employees, and domestic employees who have lost their business or streams of revenue due to covid-19.
despite the businesses should be registered in the social security contributive system and register in the fiscal system as a condition to receive support from the government.
The support provided is partial expenses for monthly contributions to social security, and provide the financial grant every month to support them to continue their economic activity.
This is monthly support to business entities for four months after it is official.
it is recalled that the Council of Minister approved the resolution number 28/2020 on August 19, as a short-term measure to mitigate the impact of the economic crisis. This will create a critical support system for the economic recovery, through business stimulus, which will conduct their activities.
The President of the Republic received the Proposal on October 6, 2020, after receiving approval from the Council of Minister on September 16, 2020
TATOLI
