Dlouhý: COVID III to help close liquidity gap in economy

(ČIA) According to the President of the Czech Chamber of Commerce (HK ČR), Vladimír Dlouhý, funds from the COVID III program will likely reach the economy in the first half of June. V. Dlouhý announced this on May 26, 2020 as part of the HK ČR's online webinar on COVID III. He added that the expected lack of liquidity in the economy could be up to CZK 600bn at the end of September 2020 and up to CZK 900bn by the end of the year. The guarantee volume of the program of CZK 150bn could ensure a liquidity impact of CZK 450bn and more. The HK ČR projection assumes that the liquidity gap in the economy could narrow at the turn of September and October and close by the end of the year. Practically all banks dedicated to corporate financing showed interest in joining COVID III, a total of about 20 banks.



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