Value-added tax

The EC Waives Customs Duties and VAT for Import of Necessary Medical Equipment

The European Commission will temporarily waive duties and VAT on imports of essential medical equipment to help fight the coronavirus.

"This will make it easier financially to get the medical equipment that doctors, nurses and patients desperately need.

The Commission has swiftly approved requests received from all Member States.

Petrol Stations: The Fuel Consumption Dropped by between 40 and 80% because of the State of Emergency

After Bulgaria declared a state of emergency because of the coronavirus, fuel consumption dropped by more than 40% in major cities and highways, and nearly 80% in small towns. The situation also creates great discomfort in fuel prices. This is commented on BGNES spokesman of the National Association of Traders and Transporters of Fuel Simo Simov.

Bulgaria’s GDP to Decline by 3% in the Worst Case Scenario

The latest budgetary changes adopted by the Bulgarian government are based on the worst case scenario for the development of the COVID-19 crisis, this country's Minister of Finance Vladislav Goranov said. We have developed three different scenarios, but we assume the most negative one, in order to guarantee the functioning of all public systems until the end of 2020.

Turkey to provide $9 billion to the markets

Turkey's coronavirus relief package will provide $8-9 billion liquidity to the markets in the next three months, Finance Minister Berat Albayrak said on March 19.

"Turkey's economic growth will exceed expectations in the first quarter, with a slight slowdown in March due to the coronavirus," Albayrak told Anadolu Agency.

Turkey unveils 100 billion liras of aid package to combat coronavirus damage

President Recep Tayyip Erdoğan has announced an aid package of 100 billion Turkish liras (about $15.4 billion) to help overcome the effects of a coronavirus outbreak.

"Our top priority is that production and employment do not get interrupted. We will get stronger with public and private solidarity. We launch a package that will be a shield for our economy," Erdoğan said.

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