Private sector's $10 million stimulus
The Government is putting the final touches on a much-needed private sector stimulus package worth $10 million to be disbursed in coming weeks, the Finance Minister has confirmed.
Mulipola Anarosa Ale Molio’o confirmed a total of $10 million has been allocated to the private sector with an emphasis on small to medium sized businesses for COVID-19 assistance.
The assistance was first announced during her budget address in Parliament.
Last week, the Government launched a $5 million Tourism Stimulus Assistance Package seeking to benefit a total of 209 businesses including accommodation providers, tour operators and travel agents to help businesses’ costs.
The Finance Minister said that the Government is seeking to help all affected sectors in the country due to the impacts of the pandemic-led downturn.
“Our committee is currently preparing the $10 million allocated for the private sector,” Mulipola said.
She said that the list of businesses that will receive the assistance will be finalised either this week or the following week.
“It is our aim that all of our promises highlighted in the budget will be met for the benefit of our people affected during the COVID-19 pandemic,” she said.
Mulipola said during her budget address that provisions have been made for a one-off assistance to those businesses who have been affected by the COVID-19 border lockdowns.
“This first Budget for 2021/22 required some time to restructure existing frameworks as well as to reshuffle resources so that Government spending can be directed to ensuring the social wellbeing of Samoa citizens,” she said.
“The Government has also paid close attention to addressing the economic decline resulting from the country’s border closures.
“It is the belief of the new Government that this Budget will be the starting point from where a more efficient and more directed use of Government resources can be actioned to ensure social harmony and secure shared prosperity for all the people of Samoa.
“It is the firm belief of the new Government that Samoa’s economy can return to and sustain high levels of growth if all citizens work together to develop and improve their own quality of life.”
Business and initiatives will be given particular priority if they present new opportunities for national development, inclusiveness and benefits to families, communities and churches at a district level.
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