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Greek SME interest in subsidies beats forecast

Initiatives

The Development Ministry of Greece announced on Friday, that a large number of small and medium-sized enterprises have expressed interest in the European Union-funded program for their support, local news site Ekathimerini.com reported. A total of 23,045 applications had been submitted electronically by last Thursday, adding up to €3.7 billion, applying for subsidies totaling €1.5 billion, against a disposable budget of €456 million. The ministry stated that this illustrates the improvement in the economic sentiment in the market and the increasing business confidence in the sectors of manufacturing, tourism and commerce and services that the program concerns. Subsidy rates reach as high as 60%, depending on the region and size of each company.

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