Plan for exceptional economic measures to mitigate the impact of COVID 19 in companies

Executive Direction of Invest in Spain. ICEX Spain Trade and Investment

The COVID-19 pandemic has profoundly changed the global economic landscape. The Government has approved several packages of urgent economic and social measures to deal with the economic and social impact caused by the epidemic in Spain, by protecting families, workers, self-employed individuals and businesses; minimizing the impact on the economy to allow for swift recovery once the health emergency is over, and to strengthen the fight against the disease. This note summarizes the main measures for businesses

This document contains an outline of the most relevant measures, from a qualitative and quantitative point of view, that the Spanish Government has taken to prevent the COVID-19 pandemic from inflicting structural damage on Spain's economy. It addresses the lines of aid that the Official Credit Institute (ICO) has made available to companies, stressing in particular the State Guarantees Facility for companies and self-employed workers or the measures to flexibilize procedures for the suspension of contracts and reduction of working hours (ERTEs) due to force majeure more flexible.