The current COVID-19 situation affects companies and businesses worldwide. In the night of April 9, the EU finance ministers definitely approved a generous €500 bn package, including €100 bn aimed at the introduction of the short-time work scheme (“Kurzarbeit”) in selected EU states. This is good news. More details on the EU package can be found at this official EU website.
At the time of the pandemic outbreak, parliamentary elections took place in Slovakia. Our new government, the members of which stand for a healthy and corruption-free business environment, was created on March 21. As early as on April 2, it managed to approve the First Aid Package, focused mainly on SMEs. Further packages will contain also measures to help larger companies, including the introduction of Kurzarbeit to the Slovak law and the use of the special EU aid above. All the measures approved in Slovakia until now are referred to as “LEX CORONA” and are made public on a step-by-step basis as aid packages.