Measures worth hundreds of millions in support of the economy
Peter Žiga (Smer), the outgoing Economy Minister, presented 13 measures in support of the economy. His successor, Richard Sulík, agrees with most of them. Banks will be offered a bank levy waiver in return for offering their clients, both companies and individuals, a freeze on principal and interest payments on their loans. The state bank SZRB will offer €10m cheap loans to companies in troubled sectors such as hotels and restaurants. The government will allow to write off tax losses in one year instead of the current four and postpone income tax return deadline by three months for all companies. Sole traders won’t pay payroll levies in March-May but will pay them gradually over the next 18 months; companies in trouble won’t pay payroll levies and income taxes for their workers temporarily; the state might provide cheap loans and subsidies to keep employment, subsidize energy prices, and waive fines for companies not able to meet deadlines on public projects. Žiga is ready to spend hundreds of millions on the measures.