General national economic measures
*tax returns and or VAT returns suspended/delayed
*loan repayment holiday
-In April 2020, the government adopted a Covid-19 emergency relief package which amounted to nearly €180 million (more than 2.5 per cent of Kosovo's GDP). The measures included support to affected sectors through liquidity provision, wage subsidies, corporate and personal income tax deferrals. Payment of loan instalments for businesses and individuals were suspended from March 16th until April 30th 2020, and could be extended depending on the situation.
-Companies were able to benefit from support for salaries of €170 per month, lasting for two months, and for pension contributions, and SMEs were entitled to a rent subsidy of up to 50% of the rent value. Micro enterprises and self-employed were eligible for credit guarantees of up to €10,000 through the Kosovo Credit Guarantee Fund. The central bank also allowed the submission of loan restructuring applications until the end of September 2020 for borrowers with payment difficulties due to the pandemic.
-The government adopted a medium-term economic recovery package in June 2020, worth €1.2 billion and covering the period 2020-23. (source)
-In addition, the EU approved assistance for Kosovo via its neighbourhood programme (part of its Western Balkans Covid-19 package worth 410m euros). On top of funds for healthcare systems, the EU mobilised €63 million to support the social and economic recovery of Kosovo. How the money is to be spent is being co-ordinated with the EU, international and national financial institutions “to support the real economy, including SMEs, and support liquidity, also of the banking sector.”
-RUNDA (the independents music companies association for the region) would like to see part of these monies used to support music and other cultural sectors.
National measures specific to the music sector or to culture in general
None at the moment.
Covid-19 measures and restrictions in the country can be found on the government's website.
Measures taken by local collecting society organisations
None so far.
Business and other expected losses
Still under evaluation.