General national economic measures
* small business relief or other financial support
*income support for employees
* income support for freelance workers
*loan repayment holiday
*mortgage payment holiday
*employer social security payment holiday
* lower interest rates
* business rates payment holiday
-Serbia adopted fiscal measures worth RSD 384bn (€3,27bn), around 7% of its GDP.
-Serbian government provided minimum wage (250euros) per employee per month, for 3 months, for all SME employees and entrepreneurs, and payment of 50% of minimum wage for 3 months for employees in large private sector companies and for employees currently not working.
-Universal cash transfer of €100 to each citizen over 18 years old.
-Three-month deferment of labor taxes and social security contributions for all private companies, to be repaid in 24 installments starting from 2021.
-Deferment corporate income tax advance payment during the second quarter of 2020.
-3-month moratorium on enforcement and interests on tax debt under rescheduling agreements and 10 percentage points reduction of the interest rate on tax debt.
-A state guarantee scheme for bank loans to SMEs has been announced (RSD 240bn, around €2bn), as well new loans to SMEs from the Development Fund (RSD 24bn, around €200m).
-3-months moratorium on all repayments under bank loans and financial leasing agreements.
-Lower interest rate.
More information here.
- As Serbia is involved in accession negotiations with the Union, the country can apply to EU funds open to accession countries like the EU Solidarity Fund (the fund was set up for natural disasters and now includes public health emergencies).
In addition, the EU has approved assistance for Serbia via its neighbourhood programmme (part of its Western Balkans Covid-19 package worth 410m euros). On top of funds for healthcare systems, the EU is mobilising up to €78.4 million to support the social and economic recovery of Serbia. How the money is to be spent needs to be 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
No measures specific to the music sector and/or culture so far.
A public appeal (titled: "#saveculture") initiated by RUNDA was sent in the beginning of May to the Serbian government. Signed by 30 associations, festivals, record and other companies from the sector (clubs, media outlets, independent cinemas, theatres etc), it proposed measures for the sector, based on IMPALA's 10 steps plan, with the aim to push the Serbian government to create measures or programmes to facilitate the sector's economic recovery.
Small stores (including record stores included) are open but have to respect social distancing and epidemic measures. On 7th May, the state of emergency and curfew were lifted.
Measures taken by local collecting society organisations
Collecting societies will not charge small users (coffee shops, small shops) until end of the state of emergency
Other music funds available
StayCreative fund of 50.000 Euro – launched by Mascom EC and state51: https://cordmagazine.com/world-news/50000-eur-support-for-musicians/
Support from online services
No specific support for Serbia at the moment. For more initiatives by online services, click here.
Support from national radio and other media
None so far.
Social media and other campaigns to promote music during the crisis
StayCreative, individual campaigns by artists/ companies.
Local programmes supported by EU funds covering music
None so far.
Business and other expected losses
Still under evaluation
For more info:
RUNDA - Regionalna udruga nezavisnih diskografa - http://runda.online/contact/