Greek companies incur losses of almost 35bn euros due to pandemic
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eKhatimerni – All Greek companies, and not just those that were forced to close during the lockdown, suffered losses in revenue reaching almost 35 billion euros in the period from January to September last year, according to the latest data published on Friday by the Hellenic Statistical authority (ELSTAT).
These losses are expected to be even higher in the fourth quarter of the year, at least compared to the first and third quarters, due to the second lockdown at the tail end of 2020, during a period that is traditionally characterised by increased consumption.
Retail, which was suspended as of November 7, saw turnover reduced in November by 38.5% compared to November of the year before. Catering businesses, whose operations have been suspended since November 3, saw turnover drop 54.1% in November compared to the same month in 2019.
Altogether, Greek companies recorded a total turnover of 193.84 billion euros in the first three quarters of 2020, compared to 228.68 billion euros in the corresponding period in 2019 – a difference of 34.84 billion euros.
Against this backdrop, Prime Minister Kyriakos Mitsotakis announced on Friday in Parliament that the coverage provided by the state of 80% of the rent that businesses pay will be extended for another month until February.
