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Saturday, July 13, 2024

More Details on State Aid for Slovenia’s Hard Hit Tourism Sector

Details are emerging of a package of state aid the Slovenian tourism sector will get to survive what is expected to be a deep slump. Aside from an extension of existing measures that all companies are eligible for, tourism companies will get an extra loan facility and a short-time work scheme.

A short-term work scheme, best known by its German name Kurzarbeit (Wikipedia), will be put in place as part of the third stimulus package, Economy Minister Zdravko Počivalšek told the press on Thursday.

Existing schemes such as state financing of temporary layoffs, which expire at the end of May, will be extended for tourism companies by between four and eight months to facilitate a gradual reopening of the sector.

A lending facility providing liquidity loans of EUR 5,000-40,000 for small and medium-sized companies will be put in place and grants of EUR 16 million total will be available to cover the running costs of restaurants and accommodation services.

“The state will help tourism because it is an industry hit by coronavirus in the most drastic way,” said Počivalšek, adding that the industry needed “measures that will facilitate not just survival but also restructuring and the development of new products.”

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