Cyprus Mail
LettersOpinion

It’s all about weathering the storm

Highly unlikely that we shall see such scenes in 2020

The incentive schemes offered by the authorities for businesses during the pandemic is / was very welcoming.

However the smart money is on businesses who think with their head rather than their heart.

Doing the math it becomes patently clear that many businesses have resigned themselves to the likely fact that 2020 be a “write off” year.

The shortfall in tourist numbers of both the UK and Russian markets cannot be made up in the next 4/6 months.(70% of the normal total.)

This same timeline applies to many other sectors of the economy.Hopefully companies and businesses have sufficient (cash) reserves to weather the storm.

RK

New stimulus package could fall flat

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