Portrait of an Ascending Sovereign Credit
Strong and coordinated response to economic challenge
Approved support measures for the Covid-19 crisis
Total amount of support
EUR,
billion
% of
GDP
Share of the
total package
3.1
11.1
Support to the field of taxation
Extensions of tax payment periods, cancellation of PIT advance payments, refund of overpaid VAT within 30 days,
extension of real estate payment terms
0.2
0.8
Aid in the field of benefits
Benefit for families (person) in a crisis situation, supplement to a crisis allowance of EUR 50 for a dependent child,
payment of sickness benefit from the state budget from the 2nd day, compensation for idle workers, workers
bonus to "Compensation for idle workers" for children, entitlement to unemployment status for patent and micro-
enterprise taxpayers, the deadline for receiving parental benefits has been extended, unemployment benefit,
downtime allowance, childcare allowance and supplement, guardian's allowance for child support, supplement to
the state family benefit for a disabled child, downtime benefits, Subsidized jobs, including support for the tourism
sector
Aid in the field of loans and guarantees
Working capital loans, credit guarantees, portfolio guarantees, increasing the local governments borrowing limit,
Investment fund, financial Instrument for the support of large enterprises
Sectoral support
Support to the air transport industry, health care support, support for distance learning, support for media and
public information, exemption from or reduction of rent, to alleviate financial difficulties in the agricultural,
forestry, fisheries and food production sectors, aallowances for interior sector employees for work in conditions of
increased risk and workload, for construction of state roads and repairs of bridges, Funding for the establishment
of a national research program to combat the consequences of COVID-19, for education and science, support for
religious organizations, Latvian Council of Sworn Notaries for the purchase of a server, allowances for prison
administration staff, building insulation, human capital, support for passenger and freight carriers, support for the
sports sector, demography, Institutions and officials subordinate to the Ministry of the Interior, support for the
cultural sector
Support related to EU fund
Short term loans to farmers, redistribution of EU funds, support for the fisheries sector, over - commitments of
EU funds, over - commitments for agricultural funds
Source: Ministry of Finance; Data on September 20
8
0.2
0.5
1.2
4.3
0.8
2.8
0.8
2.7View entire presentation