These are the 3 most important measures the state is preparing to help the economy

Illustration: Nikola Jovanovic; Photo: Shutterstock

The state is preparing three levels of measures to assist the economy hit by the coronavirus epidemic. First of all, the help will be focused as three sets:

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- Tax relief (various tax benefits, deferral, moving or write-off)

- Wage relief (covering part of wages, for example, or possible wage compensation in most endangered sectors)

- Creating conditions for liquidity, i.e. pumping capital into businesses.

"We will not go into too much public discussion when it comes to this. But work is being constantly done, there are many suggestions, and we from the Chamber of Commerce are warning that measures should be brought as soon as possible and be taken as seriously as possible. I'm sure if we are late the consequences will be bad," said Mihailo Vesovic, director of the Strategic Analysis, Analytics, Services and Product Packages Sector at the Chamber of Commerce (PKS).

Vesovic pointed out that this crisis was something that completely changed the rules of the crisis-solving game and that the state's focus so far has been on preserving the health and social systems.

Participating in an online conferenc, "Business in Challenging Times," he said that about 67,000 citizens are already working from home.

President Aleksandar Vucic also said recently that the state was "preparing a large and serious package of measures for businesspeople."

"The state will provide significant assistance to businesses and invest billions of euros in the private sector. We will come out with the first big and significant measures in 10 days and even before, so we will sit down to see what more we can do and what we can expect from you," said Vucic.

He also said that large and successful companies are facing problems because of this situation and that is why the state is preparing a large and serious package of measures for them. The president also revealed that he would talk with businesspeople about corporate bonds and other ways the state could help them.

Other countries are also taking urgent measures to save their economies from coronavirus. All members of the Croatian government have decided to forgo salaries due to the crisis. Taxes have also been deferred and the state is paying the minimum wage.

Russian President Vladimir Putin has also taken steps to save the economy from coronavirus. Some of them are non-working days, helping businesses, making massive payouts...

(V.B.)