Financial and business news from Bulgaria

Serbian government adopts economic package

The Serbian government adopted decisions at today's meeting setting the legal framework for who can use state aid from the 608.3 billion dinars package of economic measures, i.e. 5.1 billion euros, Tanjug reported.
All economic entities in the private sector will be able to use funds from this package provided that from 15 March this year until the day of entry into force of the decision the number of workers has not decreased by more than 10 per cent, BTA said.

State aid will also be available to entrepreneurs who have registered a temporary termination of their activities on 15 March at the earliest, i.e. until the day of the state of emergency. Those who have registered a company after this date are not allowed to benefit from the economic package.

These economic entities, with the exception of banks and other financial institutions, have the right to postpone the payment of taxes.

The planned measures also provide for the postponement of payment of taxes on wages and income until 4 January 2021. Payment of these liabilities will start from January next year in a maximum of 24 monthly instalments, without interest.

Micro, small and medium-sized enterprises are entitled to non-refundable funds from the budget of 30 000 dinars /one euro is equal to 118 dinars/. Payout will begin in May in three installments - in May, June and July.

The Development Fund will provide 24 billion dinars for the approval of loans on favourable terms for financial support for the liquidity of economic entities.