State support blueprint in three stages

The Finance Ministry is drafting a detailed plan for the support of the market that will unfold in three stages: The first will be up to March or April, the second till the end of the year and the third in 2022.

The baseline scenario, on which the blueprint is based, provides for a significant economic contraction in the first quarter of 2021, followed by a gradual return to economic normality from April, with the stabilization of the economy in the second quarter and strong growth in the second half of the year.

The first stage of the support measures includes the sixth phase of the cheap state loans program to cover the lost turnover of January and February, the extension of labor contract suspensions for as long as the enterprises concerned remain closed or harmed by the pandemic, and the suspension of tax and social security obligations up to March or even April...