Fiscal policy

Laško/Podčetrtek/Zreče/Bled – Slovenian health resorts were closed during the first lockdown in spring 2020 and have now been closed a second time since October, admitting only patients sent there for rehabilitation. They have suffered a significant drop in revenue and hope that legislation being drafted by the government will help the sector get back on its feet.

Ljubljana – The Fiscal Council has noted that at least one of the two conditions enabling the government to depart from the obligation of medium-term fiscal balance under exceptional circumstances will be met next year. It has thus advised caution and again called on the government to clearly define mitigation measures and quantify their fiscal effect.

At the end of March 2021, the forex reserves of the National Bank of Romania (BNR) stood at 35.709 billion euros, up 1.62% from 35.139 billion euros on February 28, 2021, the central bank announced on Thursday.

According to officials in the Ministry of Agriculture and Ministry of Rural Care, agricultural production without chemicals and machines are ideal and could boost the efforts to revive abandoned rural households, especially in underdeveloped parts of the country, reduce unemployment and boost economic development in general.

The mayor of Bucharest, Nicusor Dan, declared on Monday that the debt of the capital as of this moment goes up to 2 billion RON, although when he took upon his 4-year term, the debt was 3 billion RON. "We have debts that result from court decisions: 430 million RON, of which Constanda - 375 million RON; Law School and colleges - 25 million RON.

Ljubljana – The Economy Ministry is not considering expanding the services for which tourist vouchers, a type of state aid for tourism amid the epidemic, can be used, despite calls to expand them beyond bed and breakfast to include various attractions, hospitality services, or tickets.

The European Central Bank may be one of the strongest allies of Greece in this crisis, but the anticipated conclusion of the PEPP program is not expected to put Greek bonds at risk, as until then the sustainability of the country's public finances will have improved further, Fitch Ratings analysts told Kathimerini.

The Finance Ministry will endow the subsidy program for enterprises' fixed spending with over 400 million euros, making it a support instrument for the professionals hit hardest by the pandemic that will also undo some injustices.

Ljubljana – The parliamentary Labour Committee is expected to approve the new coronavirus crisis stimulus bill on Monday. The government-proposed bill brings EUR 320 million in aid, with employers eagerly awaiting the extension of the furlough subsidy scheme and partial cover of new expenses arising with the increase in minimum pay.

Greece has raised 3.5 billion euros ($4.2 billion) at a record-low interest rate through a 10-year bond issue, the first of 2021.

Finance Minister Christos Staikouras said the yield at Wednesday's auction was 0.8%, while demand for the bond was "very high."