BRATISLAVA – Rescue package worth €1 billion in the making

Over the weekend, Slovakia’s coalition parties had agreed on the first rescue package for firms and self-employed people struggling with the COVID-19 crisis. The package will unlock up to €1 billion per month, which is approximately 1% of the country’s annual economic output. 

And to find out more about how Slovakia is handling the crisis, click here.

The rescue package’s measures are aimed at entrepreneurs who had to suspend their operations due to the crisis or those whose income had dropped substantially provided they will not let their employees go.

Besides, €500 million in the form of bank guarantees is also part of the rescue plan. “There is no helicopter money or moral hazard,” said the liberal Economy Minister Richard Sulík (Freedom and solidarity). However, these measures still need to be approved by the government and parliament. (Zuzana Gabrižová | EURACTIV.sk

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