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The Government of the Republic of Serbia

In the service of citizens

New economic measures possible if crisis persists

Belgrade, 5 April 2020

Minister of Finance Sinisa Mali stated that the government will present new measures of support to the private sector if the crisis caused by the coronavirus pandemic in Serbia lasts longer than three months.

Mali said in a live appearance at Television Pink that the state prepared a set of economic measures to mitigate consequences of the coronavirus epidemic to the economy worth €5.1 billion, which is a half of the total annual budget, bearing in mind that the crisis is expected to last three months.

Our public finances are stable, the economy strong and the state wants to take the greatest part of the burden upon itself, he said and specified that 60-65% of these funds will be taken from the budget and the domestic securities market, and the rest on the international financial market.

This set of measures has two goals – to keep jobs and help those who are hardest hit, and that is the private sector, sole proprietors, micro, small and medium-sized enterprises, as well as to help the economy go through the crisis as painlessly as possible with a massive assistance programme, Mali explained.

He underlined that the objective is to keep production capacities unharmed, not to close factories and lay off workers and that companies go back to the level of production that they had only one month ago.

The Minister stated that the measures from the assistance programme came into force on 15 March and underlined that foreign companies confirmed that they will not change their business plans in Serbia.