The COVID-19 is choking the world economy. There are currently more than 1,099,000 confirmed cases and death cases are more than 5,9000 around worldwide due to the corona-virus outbreak.
And still, governments are trying to take all necessary steps to kill the pandemic from the COVID-19 and governments are taking all essentials financial steps to protect their citizens and small business as well as small and medium enterprises. And announced a financial package to their people.
The main topic in recently held G-20 Summit on the 26th of March was also the COVID-19 which was also communicated or held by video conferencing. Where most of the affected countries are discussing the financial cost to the pandemic of COVID-19.
G-20 Summit known as the ‘Summit on Financial Markets and the World Economy’, the annual meeting of G20 members is called the G20.
Countries which are the part of G-20 are:
- Republic of Korea
- Saudi Arabia
- European Union
- Republic of South Africa
Some countries specified financial package to their citizens as well as SMEs.
The government of India announced the ₹ 1.7 lakh crore relief package. The main objectives are to providing a safety net for those who hit the hardest by the COVID-19 lockdown, along with insurance cover for front line medical personnel.
In also addition, there are about more than 750 million people will get free cereals and cooking gas apart from cash through direct transfers for three months.
The Ministry of Brazil has earmarked R 60 billion to safeguard the wages and jobs. Brazil govt announces to labour rule R $ 200 to protect the jobs and low-income earners in Brazil.
The Govt of Brazil will give R $ 5 billion to the public banks to grant loans to SMEs. The Brazilian federal government has postponed the collection of Simple National tax for three months, which will benefit 4.9 million companies.
Govt of CANADA Introducing the Emergency Care Benefit providing up to $900 bi-weekly, for up to 15 weeks.
Canada Revenue Agency will not contact any SMEs to initiate any post-assessment GST/HST or Income Tax audits for the next four weeks. Audits are temporarily suspended for all businesses.
US President has signed worth $ 2 trillion as of the rescue package and financial relief to millions of Americans which secure the country’s economy by the pandemic COVID-19.
It also includes help for small businesses and employee retention payroll tax credits to keep more people on the job earning a steady paycheck.
On Monday Govt of Italy adopted an emergency decree worth 25 billion euros to support an already weak economy battered by the outbreak of corona-virus in Europe.
And provides 3.5 billion euros to help the hard-pressed health service and 10 billion to support families and workers.
Only Antarctica is the only country who still safe with this pandemic virus. According to Della Rovere “Right now, this, Antarctica, is the safest place in the world”. “There are no outside contacts and we’re far away from any settlement.”
#Stay Home #Stay Safe #Social Distancing