The Samoa Government has passed a $ST66.3 million stimulus package in an emergency meeting of Parliament this morning.
Parliament set aside House Standing Orders to allow a fast passage for the bill which is expected to be signed into law this week.
Minister of Finance Sili Epa Tuioti said that the stimulus package is to keep the government operating and give support to the private sector and the general citizenry affected by the COVID-19 pandemic.
“This will help give support to government and the private sector for the next 3 to 6months,” said the Minister.
As expected, the Ministry of Health gets the bulk of the proposed stimulus funding with a $WS20.3 million allocation.
This will go towards awareness programmes for prevention of COVID-19 as well as building negative pressure buildings for any covid-19 patients and for the building of special wards and quarantine centers.
The funds will also go towards preventive and testing equipment and any necessary medicine for treatment.
The tourism sector gets strong support as government moves to prop up the country’s biggest earner, reeling as a result of worldwide travel restrictions.
A total of $ST12.5 million has been earmarked for tourism support which includes relaxing of loan payments through a moratorium on interest payments on tourism related loans especially from the Development Bank of Samoa.
Tourism related loans from the National Provident Fund will get a 6 month moratorium on repayments and will be reviewed after this period.
Commercial banks will also be asked to allow government to pay interest payments on loans for up to two months.
All tourism workers who will lose their jobs because of COVID-19 will be allowed to withdraw all their member contributions from the National Provident Fund.
Sili said government is looking at its development partners for support for his stimulus package but Treasury has also come up with other government initiatives to help.
The country’s pensioners, who currently receive $145 tala a month will get a one off payment of $300 tala this month to help with any increased cost of living.
All imported health produce will be allowed free of customs duty.
