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The spending accounts in the crisis caused by the coronavirus continue to grow, and, due to the announcement made by the Minister of Finance, Alberto Carrasquilla, during a virtual session in the Senate of the Republic, they add another trillion pesos, at 6 billions that had already been accounted for, to apply the payroll subsidy to all formal companies that would have had a reduction in their income of at least 20 percent in April, month of total confinement.
Now, the measure will be extended to employers who are registered as legal entities and, although the detail added in the decree is still pending (not yet issued), the Deputy Minister of Finance, Juan Alberto Londoño, confirmed the cost.
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336,000 productive units would be registered as natural persons, according to the figures known in the chambers of commerce.
In these units there would be 852,000 jobs, therefore, if the payroll subsidy offered by the Government is equivalent to 40 percent of a minimum wage, that is, 350,000 pesos, implies that the monthly cost for this segment of beneficiaries would be 298,200 million pesosWith which, during the three months, anticipating that all who can access meet the requirement to be beneficiaries (20% reduction in their income), the cost would be one trillion pesos.
ECONOMY AND BUSINESS
