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Ten measures to support the Serbian economy

The National Alliance for Local Economic Development (NALED) has proposed 10 measures to support the economy and preserve jobs due to coronaviruse.
Among these measures is the temporary reduction of taxes and contributions to earnings or their deferred payment for small businesses and the most vulnerable sectors.
Among the proposed measures are the provision of cheap loans to the economy with the support of the state and the payment of one-time financial assistance to vulnerable companies and citizens who lose their jobs.
These are, as announced, economic stabilization measures, the urgent adoption of which is proposed by NALED.
NALED’s expert team formulated a package of measures to maintain economic liquidity and business continuity, support local governments and citizens who will be most affected by the effects of the virus coronar pandemic.
The measures have been submitted to the Presidency, the Government of Serbia, the National Bank of Serbia and the Serbian Chamber of Commerce and are a preliminary proposal that requires additional analysis of feasibility and effects and adjustments depending on the situation.
“On behalf of the more than 300 members of NALED, we want to help the country overcome the challenges posed by the virus pandemic pandemic and propose the creation of a joint expert group, composed of representatives of the sectoral institutions, industry, civil society and the international community, which would support the Crisis Staff and help reduce the dramatic decline in economic activity and rising unemployment”, says NALED Chairman Vladimir Novakovic.
According to him, NALED is also available, in cooperation with international partners, to try to refocus activities and projects on addressing the health and economic consequences of the pandemic, as protecting the health of the population, preserving life and preventing rising unemployment are the first and foremost goals.
In cooperation with the Office for IT and eGovernment, NALED has already taken steps, with the support of the EBRD, to urgently establish a contact center for reporting to all republican inspectorates to prevent the growth of the informal economy and the unlawful raising of prices for basic food, safety equipment and disinfectants, foods and medical supplies.
Among the key measures at NALED’s initiative at this time are proposals to introduce extended maternity leave and vouchers to help care for children so that working parents can cope more easily with school closures.
The incentive package also suggested options for introducing a three-month break in repayment of loans and liabilities to the state for the vulnerable categories, as well as a measure of tax exemption and contributions in the first year of business for lump-sum entrepreneurs to encourage self-employment.

It is also proposed to establish a financial support fund for the cities and municipalities most affected by the epidemic.
Encouraging cashless payments will help reduce the spread of the virus over cash and will support the legal flow of the economy.
Also, timely preparation of public works is proposed, as a way of working to engage vulnerable groups and encourage local development after the epidemic is over.
In addition, it is necessary to expand the scope of regulations for simplified electronic engagement of seasonal workers in areas that will be particularly affected such as tourism, home assistance, childcare, courier services and more, B92 reports.