News Article CEE coronavirus Czech Republic economy loan Slovakia
by Property Forum | Economy

Governments continue to come up with measures to help stabilize the economy. Property Forum collected the latest efforts by CEE governments to rescue businesses and individuals affected by the coronavirus crisis.

Self-employed in the Czech Republic will receive a monthly benefit of €550  (CZK 15,000)

The government of the Czech Republic has announced that self-employed persons with occupations directly affected by the coronavirus restrictions will receive €550 (CZK 15,000) per month. Also, as another step to moderate the economic consequences of the pandemic, the Czech Parliament has passed a bill suspending minimum health and social tax payments for self-employed persons over the next six months. The Finance Minister of the Czech Republic has requested banks to introduce a six-month moratorium on mortgages, consumer and company loan payments.

Previously, the government had announced to cover up to 80% of wages for employees of companies forced to shut down under the quarantine restrictions.

Slovak government plans biggest aid package in Slovak history

Slovakia’s new finance minister has introduced an economic aid package of up to €1 billion per month to support businesses and employees shattered by the coronavirus crisis.

As part of the aid package, employees of businesses forced to close due to the epidemic will be reimbursed by the state at up to 80% of their wage. The state will also support self-employed persons and employees of companies facing reduced revenues by payments linked to the volume of the revenue drop. Quarantined employees and parents who have applied for childcare allowance can receive 55% of their gross salary.

Also, the state will set aside €500 million a month for banks to offer loans to entrepreneurs. Employers can postpone their social and health contributions as well as delay some tax payments in case their income has fallen by at least 40%.

On top of these, companies can also offset accumulated losses between 2014 and 2018 against corporate income tax.