Thursday, 21 October 2021 03:44

MINEC proposes subsidy for companies that hire people between 18 and 21 years of age without experience or 40 years of age or older without having worked for 18 months

Written by Evelyn Alas

Minister of Economy María Luisa Hayem and Vice Minister of Economy Mario Salazar, together with Minister of Finance Alejandro Zelaya, presented this morning the third reform of Fideicomiso para la Recuperación Económica de las Empresa (FIREMPRESA), which has a remainder of US$9.6 million in subsidy programs. The funds will be reallocated to employability programs, fishermen, artisans, and vendors affected by the fire in Mercado San Miguelito.

Officials explained that US$4 million will be directed to companies that can hire young people between 18 and 21 years of age with no work experience and 40 years of age or older, with unemployment of more than 18 months.

If the reform is approved by the Legislative Assembly (LA), it could be subsidizing the first three months of the contract to people with approximately U$200 per month.

Another one will be for US$3 million to benefit merchants of Mercado San Miguelito who have stalls legalized by the Mayor's Office of San Salvador and who were affected by the recent fire.

"President Nayib Bukele has asked us to redirect the funds to support the merchants who were affected by the fire in Mercado San Miguelito", said the minister of Economy, María Luisa Hayem.

In addition, the reform will seek to invest US$2.6 million to support artisanal fishermen registered in the Centro de Desarrollo de la Pesca y la Acuicultura (CENDEPESCA), whether or not they have a valid card, and also artists who have not yet benefited from the current subsidy program that covers the latter sector.

The minister of Finance, Alejandro Zelaya said that they are seeking to redirect US$9.6 million of the US$67 million still in the FIREMPRESA trust fund.