Colombian President Iván Duque announced the economic emergency in the country as a measure to fight the consequences of the coronavirus.
“We have declared a new economic emergency in the country to continue attending to the effects of the pandemic,” said the president, and assured that the validity of this situation will be 30 days.
Specifically, the rule states that the economic emergency seeks to “mitigate the crisis in the face of the imminent systematic destruction of jobs with the negative impact that this would have on the economy, not only for Colombian families but for the entire economic system.“
On the other hand, Duque assured that, among the measures that the economic emergency contemplates, is the protection of payrolls through subsidies of up to 40% of the minimum wage for companies that see their turnover affected by 20% due to the Covid-19.
The President also specified that the economic emergency has been decided together with the Minister of Finance, Alberto Carrasquilla, the Director of National Planning, Luis Alberto Rodríguez, and the Executive’s economic team.
Source: El Tiempo