Slovak Government Drafts 'First-aid' Economic Package due to Coronavirus

Slovak Government Drafts 'First-aid' Economic Package due to Coronavirus

Bratislava, March 29 (TASR) – Slovakia’s Government has drafted a ‘first-aid’ package of economic measures worth €1.5 billion per month (1 percent of GDP for the same period) to help businesses, the self-employed and employees affected by the coronavirus lockdown, Prime Minister Igor Matovic announced on Sunday.

The state is planning to refund 80 percent of salaries received by people employed in facilities that have been obliged to close. Compensation will also be offered to the self-employed and employees depending on the drop in revenues of the affected businesses.

In addition, €500-million bank guarantees will be provided per month to allow banks to refund businesses’ expenditures under advantageous conditions.

Quarantined people and parents staying at home with their children will receive 55 percent of their gross salaries.

Meanwhile, businesses that have suffered a more than 40-percent drop in revenues will be able to delay payroll deductions for their staff and advance corporate tax payments.

According to Deputy Prime Minister and Economy Minister Richard Sulik (SaS), dozens of other detailed minor measures are still in the frame.