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Slovenia allocates EUR 1 billion to mitigate consequences of coronavirus on the economy

At the meeting of the Council for a Competitive and Stable Business Environment, Minister Zdravko Počivalšek presented eight crisis management measures totalling almost EUR 1 billion in connection with the effects of the coronavirus on the economy and tourism.

The measures include immediate intervention measures as well as strategic measures for the restructuring of supply chains

The measures include immediate intervention measures as well as strategic measures for the restructuring of supply chains | Author Daniel Novaković, STA

The measures include immediate intervention measures as well as strategic measures for the restructuring of supply chains. Their objectives are to ensure the liquidity of companies, aid in the preservation of jobs, minimise the damage already incurred and guarantee that the situation of companies on the market does not further deteriorate, explained Počivalšek in his statement after the meeting of the consulting body of the economy minister in Ljubljana.

Among the measures are an intervention law for co-financing temporary lay-offs, lines of credit at the SID Bank, the Slovenian Enterprise Fund and the Slovenian Regional Development Fund; aid in the field of internationalisation, aid to companies in difficulty, telework and quarantine cases, a proposal for tax deferral, and measures in the field of tourism promotion. Slovenia will harmonise all of its measures with the European Commission.

Počivalšek highlighted that it is important to act with prudence, not cause panic and protect human health. "I'm an optimist and I believe that we will protect our economy from major impacts of the coronavirus crisis to the greatest extent possible," he said. As much as 85% of the Slovenian economy is export-oriented; therefore, he believes it is of utmost importance for the whole of Slovenia to remain in a setting that will be open to freedom of movement of goods and services.

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