To address the immediate impact of COVID-19 on the Serbian economy, the government has deployed approximately USD $3.5 billion in fiscal support measures.

As of today, the fiscal support measures have included:

– Wage subsidies of up to 100% of minimum wages for eligible employers;

– 10% wage increase for public health workers;

– One-time payment for eligible pensioners;

– Direct cash transfer of €100 for each adult citizen;

– Deferment of labor taxes and social security contributions for 3-months for private businesses, which is set to be repaid in monthly installments beginning in 2021;

– Deferment of corporate income tax payments for 2020 Q2; and,

– Leveraged approximately USD $2.5 billion for loan guarantees and financing for SMEs

Additional measures targeting the most affected industries are expected to be announced over the coming weeks, including significant infusions in new public capital investments.