Portrait of an Ascending Sovereign Credit
Government support package to mitigate Covid-19 crisis and its fiscal impact
Total support to economy, EUR million and % of GDP
3500
I
10.9%
■Loans and guarantees; working capital loans, credit and
portfolio guarantees, increasing the local governments
borrowing limit, Investment fund, financial Instrument for
the support of large enterprises
3000
2500
2000
4.4%
1500
1000
500
6.0%
2.1%
0
2020
Asessment
2021
2021
Plan
Actual
performance
2022
Plan
Through taxation; Extensions of tax payment periods,
cancellation of PIT advance payments, refund of overpaid
VAT within 30 days, extension of real estate payment
terms
■Benefits; downtime allowance, childcare allowance and
supplement, subsidized jobs, including support for the
tourism sector, support for families EUR 500 for each
child in foster care, one-time support EUR 200 for
pensioners and person with a disability
500
0
-500
Impact on balance, EUR million and % of GDP
-0.8%
■Sectoral support; to the air transport industry, health
care, for distance learning, for media and public
information, for the sports, the cultural, the agricultural,
forestry, fisheries and food production sectors, allowances
for interior sector employee
-1000
-3.3%
-1500
-5.5%
-2000
-2500
2020
Asessment
21
2021
Actual support
-6.9%
2021
Estimate
2022
Estimate
■Restructuring of EU funds; short-term loans to farmers,
redistribution of EU funds, support for the fisheries sector,
over commitments of EU funds, over - commitments for
agricultural funds
-
Data source: Assessment of the Ministry of Finance as of November 7, 2021 according to the data from the State Treasury, State Revenue Service, Altum, State Social Insurance Agency, ministries etc.
Actual performance till November 7, 2021, plan according government decisions till November 7, 2021. Amount may change during the course of 2021, subject to further government decisions and pandemic situation development.View entire presentation