Category: Tax law

31 Mar 2020
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Serbia Unleashes Unprecedented EUR 5.1 Billion Aid Package

On March 31, 2020, the Serbian Government adopted a €5.1 billion program of support measures for the economy (the Serbian Program).  According to the Minister of Finance, Siniša Mali, who announced the measures earlier in the day “[the Serbian Program] is equivalent to half of the State budget and 11% of national GDP”. What makes it a legal rarity is that this is a precedent of ‘Covid-19 EU Association State aid’.  In other words, this is the first case of Covid-19 related measures and aid being introduced in an EU association country based on Article 107(b) and (c) of the […]