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Algeria suspends delay penalties on firms hit by coronavirus

Economic News, Arab Countries

Algeria suspends delay penalties on firms hit by coronavirus

 

 

 

 

Algeria, seeking to ease the impact of coronavirus on state and private sector firms, will suspend the implemention of financial penalties for delays in carrying out projects across various sectors, the prime minister‘s office said on Wednesday.

 

 

The decision followed a measure earlier this month to defer or reschedule loan payments for companies affected by the virus.

  

 

As part of steps to combat its spread, the government has given 50% of employees paid leave and suspended public transport, depriving firms of workers and vital equipment.

  

 

”These measures have negatively impacted firms, which are suffering a slowdown in their activities,“ the government said in a statement. ”This is due to delays in the supply of equipment and raw materials and the unavailability of workforce.“

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