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Home/News/Serbia to stop subsidizing trade and hotel industry

Serbia to stop subsidizing trade and hotel industry

RSD 15 billion dinars has been set aside in Serbia’s 2019 budget for subsidies for job creation.

The money will primarily in factories and, partly, in the IT and communications sector, while subsidies for international trade and the hotel industry will no longer be available, Tanjug reported, citing the daily Politika.

The report said the amount was RSD 2.5 billion higher than last year, and also higher than at any time since subsidies were introduced 12 years ago.

Quoting a source in the Ministry of Economy, the paper said new decrees on subsidies for the food industry would be adopted as well.

“Under a decree on defining criteria, adopted by the Serbian government at the end of last week, in addition to job creation in manufacturing, subsidies can be granted for services by service centers and for support to business operations,” it said.

According to the report, investors will be given 3,000-7,000 euros per job created depending on the environment they are investing in.

Source; B92