Economic Impact of the Middle East War: Measures for SMEs

What kind of support is available for small and medium-sized enterprises (SMEs) facing the economic repercussions of the war in the Middle East and the resulting energy crisis? The Cabinet, which met this Friday, has implemented a series of measures to ensure the stability of this sector. Here are the key points:

• Introduce a SME Resilience and Continuity of Imports & Exports Scheme to provide targeted and limited-time support to affected SMEs, including the maintenance of the current Freight Rebate Scheme.

• Implement measures to ease liquidity constraints and support business continuity, particularly by granting a moratorium period or restructuring loans provided by DBM Ltd and other relevant financial institutions.

• A Loan Scheme for Working Capital through DBM Ltd will be reviewed, allowing SMEs to address their short-term working capital needs.

• Accelerate the operationalization of VOSTRO account arrangements with India to facilitate the settlement of trade transactions in local currencies.