NEWS

Latest Government Activities to Aid Private Commercial Sector in Resisting COVID-19 Related Economic Challenges

The first quartal of 2021 has shown significant legislative activity of the Serbian Government aiming to mitigated economic difficulties that the commercial subjects in Serbia are facing due to the Covid 19 pandemic.

First, in February 2021, the Serbian Government issued the Regulation on Determining Programme of Direct Payments from the Budget of the Republic of Serbia to Commercial Subjects in Private Sector in order to Mitigate Economic Consequences caused by Epidemic of Covid-19 Disease caused by SARS COV-2, granting one more time state aid through direct payments to commercial subjects in the private sector.

Overview of the most common questions about the direct payments granted under the abovementioned regulation is presented in the form of Q&A at the following LINK 1

Now, the beginning of March 2021 is marked with amendments of three 2020 regulations on different forms of state aid aimed to eliminate or mitigate adverse effects of Covid-19, i.e. Covid 19 related market disruptions, and namely:

  • Regulation on amendments of the Regulation on Conditions and Criteria for Coordinated State Aid aimed to eliminate Serious Market Disruption caused by Epidemic of contagious disease Covid-19;
  • Regulation on amendments of the Regulation on Conditions and Criteria for Coordinated State Aid aimed to eliminate Adverse Consequences caused by Epidemic of contagious disease Covid-19; and
  • Regulation on amendments of the Regulation on Conditions and Criteria for Coordinated State Aid through Recapitalization of Market Participants aimed to eliminate Market Disruptions caused by Epidemic of contagious disease Covid-19.

Overview of the amendments of the above listed 2020 regulations is presented at the following LINK 2

Both overviews were provided by JPM Partner Nikola Djordjević and Senior Associate Marija Vukčević.

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