CTTR, or Reinforced Total Temporary Unemployment, will be extended until March 31, 2021, as the Monaco Government continues to support the local economy.

Didier Gamerdinger, Minister of Health and Social Affairs, said: “The extension of the Reinforced Total Temporary Unemployment until next spring is a strong gesture which has been budgeted at 9 million euros per month. It meets the expectations of many professionals who fear a rebound in difficulties at the end of the summer season, in particular by the cancellation of several major events in September and October.”

Pascale Pallanca, Director of Employment, explained the development of the system: “For all activities strongly impacted by the crisis – events, culture, leisure, sport, travel agencies, hotels, restaurants, convenience stores, transport, nightclubs, etc., no proof will be required. For activities impacted by ripple effects, such as wholesaling, printing or consulting and management companies, it will be necessary to justify a decline of at least 30 percent of turnover in order to benefit.’

Since the CTTR is considered to be support for returning to work, employment must continued in order to for the employer to continue to benefit. Finally, in the event of redundancies the company will be subject to a penalty in the assessment of CTTR, and the remainder of the company’s salaries will drop from 20 to 30 percent.

PHOTO: Minister of Health and Social Affairs Didier Gamerdinger (centre) led Wednesday’s press briefing Monaco Government Press Service