Slovenia: The second stimulus packages adopted in Covid-19 context

published on 5 May 2020 | reading time approx. 1,5 minutes

The National Assembly passed this week the second coronavirus stimulus package, which mainly consists of a 2 billion euro guarantee scheme for loans to companies. It also passed amendments to the first stimulus bill, worth over 3 billion euro, relaxing conditions and expanding the list of benefit recipients to 1.2 million.

Following initial emergency measure and ahead of additional incentives meant to kick-start growth, the second stimulus package provides liquidity for businesses through a 2 billion euro guarantee scheme for loans from commercial banks.
 
Loans to micro companies and SMEs will be guaranteed for up to 80 per cent of the principal, and loans to large companies up to 70 per cent of the principal. Banks will get guarantees for loans with a maturity of five years issued between 12 March and 31 December 2020, and intended exclusively for financing the company's principal activity.
 
Along with the guarantee scheme, the Government also passed upgrades to the first stimulus package by introducing milder conditions for subsidising wages for idled workers and by expanding eligibility for such measures by another 190,000 recipients to put the total number of 1.2 million. Slovenia has 2 million residents.
 
The same change applies to the self-employed, who get a basic income and have their social contributions covered as part of the aid package and will also be available to humanitarian organisations and organisations representing the disabled, as well as small companies in the insurance and finance sectors.
 
A large set of measures apply also to the employees. Part of this measures covers:

• all workers who do not work during temporary measures due to temporary waiting for work or force majeure are entitled to wage compensation in accordance with ZIUZEOP (ie 80 per cent or at least the minimum wage);
• the employee who is entitled to a proportionate portion of the crisis allowance for the time he actually works (but not for periods of absence due to waiting for work, annual leave, sick leave);
• the worker is entitled to a crisis allowance if he / she actually worked on a holiday and other non-working day;
• part-time workers are entitled to crisis allowance in proportion to their working hours, unless they work part-time (Article 67 of the ZDR-1).

The failure to pay the crisis allowance can be subject to a fine.