Anif proposes to the Government to pay MSM payrolls

According to the entity, the measure would cover 5.4 million workers and would require resources of $ 5.7 billion each month.

The National Association of Financial Institutions (Anif) published a statement explaining that despite the measures implemented by the Government to provide liquidity to companies, many financial difficulties still persist, especially for micro, small and medium-sized companies ( MSMEs), which generate around 17 million jobs.

Thus, he proposed to the Government to design direct measures, such as the payment of the payroll of MSMEs affected by the spread of the coronavirus. “A special program that covers the income of workers who earn between one and two minimum wages,” Anif explains.

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According to the entity, the measure would cover 5.4 million workers and would require resources of $ 5.7 billion each month, which would allow reducing “not only the loss of jobs and household income, but also would make it easier to economic revival through increased consumption. “

It is worth remembering that Anif believes that there will inevitably be a slowdown in people’s consumption, so it adjusted its projections from 2.6% to 0.4% for 2020, although “if the public health crisis persists and lasts longer the period of isolation ”, consumption could fall to -0.6%.

Anif’s new proposal would complement the one to implement a “Semi-universal basic income”, it is a draft of $ 450,000 to 17.9 million people. Together, these two measures would represent resources of at least $ 13.7 trillion (1.2% of GDP), thus the loss of workers’ labor income ($ 12.5 trillion between March – May), which we previously calculated, would be covered. “

In addition, Anif reiterated the importance of gradually reactivating the economy, because according to what they say, it is impossible for the Government to finance close to 1% of GDP every month.