Cadez: New State Assistance to Businesses Will Be Selective and in Stages | Beta Briefing

Cadez: New State Assistance to Businesses Will Be Selective and in Stages

Source: Beta
SEE Business / Serbia | 22.07.20 | access_time 11:51

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Serbian Chamber of Commerce President Marko Cadez has said that measures from the second state assistance package to the economy cannot be equal for all as was the case during the first wave of the coronavirus pandemic, but will be selective and in stages, and primarily intended for those affected the most by the crisis and necessitating, owing to the nature of their operation, more time for recovery.

“The measures should help companies to overcome diminished demand at the domestic and foreign markets, which is the main challenge they will face in the coming period, and thus maintain liquidity,” Cadez told Blic Biznis on July 22.

According to him, the second assistance package “must be structured differently and will, in financial terms, certainly be smaller than the first, urgent assistance package.”

“[This will be so] not only because the state’s capabilities are not unlimited, but because there are no measures, no state funds, whose funneling could help the economy if the market is not functioning, if there is no demand, and if we do not help businesspeople to produce and sell,” Cadez pointed out.

He also said that the businesspeople are also aware “that such financially generous package as was approved during the first wave cannot be repeated and that not all can expect to receive direct aid.”

Cadez, however, added that “the possibility for state intervention in favor of those most endangered – be it in the form of minimum wages or, perhaps, writing off of a portion of their postponed obligations – should not be ruled out if more detailed analyses show this is economically justified.”

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