News Article CEE coronavirus economy recession
by Property Forum | Economy

Governments in CEE countries have introduced further measures to ease the impact of the coronavirus crisis on the economy. Property Forum summarised the latest actions.

Czech state to cover 80% of employee wages
The Czech government has announced to cover up to 80% of the wages of employees of companies forced to shut down under the quarantine measures. Furthermore, the government has allocated around 2% of the GDP in direct financial support for companies affected by the coronavirus crisis. The government has also assured to earmark around 16% of GDP to help businesses obtain additional financing.

Tax measures implemented in Hungary 
In Hungary, sectors such as tourism, hospitality, entertainment and passenger transport will be relieved from liabilities of social security contributions until the end of June. 

Issuing guarantees in Slovakia
The Slovakian government has announced contribution guarantees for employers for securing the jobs of their employees. The government has also introduced a financial aid package for self-employed persons who had to end or limit their activities due to the coronavirus. Also, the City of Bratislava decided to divide this year's real estate tax for all individuals and sole traders into three instalments.

Paid leave for parents of schoolchildren
In Romania, parents who have children up to 12 years or have children with disabilities up to 18 years will receive paid leave for the period of school closures, if their workplace cannot allow remote work.