Latvia's Economic Response to Covid-19
Strong and coordinated response to economic challenge
Approved support measures for the Covid-19 crisis (on February 21, 2021)
2020
Actual
Total amount of support
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
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, allowances 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, for the Latvian Board of Sworn Notaries to purchase a server to ensure the continued operation of the e-apostille register,
allaminating the difficulties caused by the spread of Covid-19 in the notarial, allowances for prison administration staff, building insulation,
human capital - campaign for lifelong learning, funding for the monitoring of university graduates, support for passenger and freight carriers,
support for the sports sector, funding for demographic improvement, Institutions and officials subordinate to the Ministry of the Interior,
support for the cultural sector
Support related to 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
Source: Ministry of Finance
8
2021
Plan
4.5% of GDP
8.4% of GDP
EUR, billion
1.3
2.6
0.3
0.1
0.1
0.4
0.3
0.9
0.6
1.2
0.027
0.0007View entire presentation