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Economic impact of COVID-19 on self-employed workers in the Valencian Community

The impact of the coronavirus crisis is likely to be especially serious for some 350,000 self-employed workers in the Valencian Community. According to the research carried out, each month of economic freeze could cause the number of self-employed workers to fall at an annual rate of 5.1% in a baseline scenario and 6.7% in a worst-case scenario. To ease the impact of the crisis, these professionals have requested full exemption from social security payments for as long as the state of emergency is in force in Spain. In the Valencian Community, this measure would cost the government 117.2 million euros per month. However, other options may be considered to compensate for the specific losses of each self-employed person depending on their financial situation.