On May 15th 2020, Slovenia officially called of the COVID-19 epidemic and was the first EU country to do so. This was possible due to successful managing and preventative measures which contained the spread of the virus. Now, the country is resuming business activity and in order to support the economy, the government issued approval of the third round of government support. We will be explaining which business in Slovenia it will benefit and what it will include.
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Approval of third round of government support in Slovenia for the economy – what does it include?
The government issued the approval of the third round of economic support to ease the effects of COVID-19 epidemic. This round of support will benefit mostly the tourism and hospitality sectors. A main part of this approval is also subsidizing part-time employment. This is to ensure job retention and motivate the economy to activate production procedures. The compensation for the subsidiy will be 80% for 5-20 hours per week. For the time that the employee works, the receives salary. For the time the employee does not work, he gets 80% salary compensation. The companies that apply for this support cannot terminate employment at least 1 month after finishing with the subsidy. This benefit will be possible for all business activities.
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Approval of third round of government support in Slovenia for the economy – supporting tourism and hospitality
The approval of this round of support will benefit mostly the tourism and hospitality sectors, on which the epidemic had the biggest negative effect. Companies in tourism and hospitality that experienced at least a 10% decrease in income compared to 2019, can apply for compensation for waitlisted employees. The employers have to waitlist employees until 30th June and the employee can return to work up to 7 days a month. The government will cover 80% of the salary compensation, while the employer covers the remaining 20%.
The other supporting measure that received governmental approval are vacation vouchers. All Slovenian citizens over 18 years will receive a 200€ voucher, while minors will receive a 50€ voucher. They can spend it until the end of the year in any accommodation facility in Slovenia. In addition to supporting the population, this measure will also support companies in Slovenia engaged in tourism and hospitality in Slovenia.
Also, the Solidarity Instrument of the European Commission (SURE) will ensure 100 billion EUR of loans to all EU member states. Slovenia will use these funds to fund the national measures of compensation for part time employment and other similar measures. From this fund, Slovenian will use around 900 million EUR, while it will also redistribute national funds to cover these measures. All in all, the approval for the third round of government measures will offer around 1 billion EUR of support.
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Due to the success of Slovenia in defeating the epidemic as well as ample governmental support, it is a good time to register an enterprise in Slovenia. Contact us for support!
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