| Relief measures | Recovery Measures |
Self-employed Businesses | Direct income support to vulnerable populations (e.g., cash transfers) Temporary tax cuts and moratoriums on debt repayments Public loans and guarantees, and wage subsidies | Formalization of jobs, direct income support, skill support programs, and job transformation programs Public loans and guarantees for capital investments, wage support, vocational training programs, and targeted subsidies Business transformation programs (digitalization, sector transformation, etc.) Partial/temporary nationalization programs to support employment and prevent large bankruptcies National/local preference programs to support local industries/traders |
Demand-side interventions | Government expenditures, interest-rate cuts, and widening lending facilities to banks | Macroeconomic stimulus packages, fiscal stimulus, public investment, and targeted sector interventions |
Challenges | Fiscal space, household targeting for middle-income countries | Financial market response to interest cuts, transmission to real economy, small fiscal multiplier, knowledge economy, and time-lag of the public interventions |
Timeline | Immediate | Medium term |