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Measures to support the Slovenian economy in response to the coronavirus

Written by
ŠELIH & PARTNERJI Law Firm, a leading Slovenian full-service business and employment law firm with a long tradition of legal service excellence.
Slovenia has announced a range of measures to mitigate the economic impact of the coronavirus epidemic. This article sets out details.  

Due to the coronavirus outbreak, Slovenia has implemented various measures to help businesses face these challenging times. The Parliament has adopted several emergency laws. The Ministry of Economic Development and Technology (‘MGRT’) has defined a set of measures for the economy amounting to a total of EUR 998 million of which EUR 600 million are already available from Slovenian Investment and Development Bank (‘SID Banka’). Other measures have also been announced for the future.

Measures available now 

Emergency law: Partial reimbursement of salary compensation for employers affected by coronavirus 

Parliament has adopted an emergency law designed to protect jobs with employers active in the areas most exposed to the consequences of the coronavirus and the jobs of employees who will not be able to work due to quarantine. Details of this support measure are provided here.

Emergency law: moratorium on bank loan payments 

Parliament adopted an emergency law on 20 March 2020 which requires that banks and branches of EU member states banks in Slovenia (‘banks’) allow moratoriums of any payments due under any loan agreement for a period of 12 months, provided that these payments fell due after the declaration of the coronavirus epidemic (12 March 2020).

Companies, farmers, associations, cooperatives and institutions, as well as the self-employed and consumers will be able to apply for moratoriums of their loans within six months after the end of the declared epidemic. The applications for moratoriums will need to include certain mandatory elements, while the conditions for eligibility for moratoriums will be eased for those who have been barred from operating by a government order, such as stores offering non-food products and providers of certain non-urgent services. Any bank that unjustifiably denies a moratorium will be fined. Fines are also foreseen for members of the banks’ management boards and responsible individuals within the banks.

Emergency law: extension of deadlines for submission of tax filings and annual reports and tax payment deferral 

Parliament has adopted an emergency law extending the deadlines for submission of tax returns and annual reports from 31 March 2020 to 31 May 2020, with possible further extension for 30 days if the epidemic is not over by 15 May 2020.

While the existing tax legislation already allows companies to request for deferral of tax payments for up to 24 months in the event of severe economic damage, the emergency law loosens the conditions for such tax payments deferrals. The Slovenian Financial Administration will now have the possibility to, upon request of a company and without establishing the criteria of having suffered severe economic damage, defer tax payments or approve instalment tax payments for up to 24 months if a company is not able to generate income because of the coronavirus outbreak. The tax payment deferral regime does not apply to payment of social contributions.

Slovenian Export and Development Bank (SID Banka) 

Together with MGRT, SID Banka will offer financial products to SMEs and large companies of a total of EUR 800 million. They will introduce new products in the amount of EUR 200 million while EUR 600 million will come from already existing products. The funds are intended to address liquidity problems, problems due to fall in demand, production fall-out, supply chain difficulties and investment difficulties. Measures will also include insurance and bank loan refinancing.

For the purposes of indirect financing, of a total of EUR 600 million (already available through banks NLB, NKBM, Abanka, Addico Bank, Gorenjska banka, Sberbank and Hranilnica Lon), SID Banka will loosen restrictions on the participation of SID Banka in the financing of projects or business activities. It is foreseen that financing provided through SID Banka could be as high as 100% of the entire cost of a project or business operations of an SME or large company. Loans will also be available for refinancing purposes only.

SID Banka will also change the conditions for the sustainable tourism credit fund. The purpose of these loans will be extended to also cover working capital and food service activities. From the total EUR 160 million available under this measure, EUR 100 million will be available for the extended purposes described.

With the changes to the scope of the credit fund for business financing and capital strengthening SID Banka will allow 12-year financing of tangible and intangible assets and/or working capital for SMEs without a maximum capitalisation limit. Under this measure SID Banka plans to guarantee EUR 50 million.

Slovenia Enterprise Fund (SPS) 

The SPS together with MGRT is planning to introduce a package of measures intended for micro companies and SMEs of a total of EUR 115 million.

So far SPS has amended (on 20 March 2020) the conditions for valuation of applications under tender P1 plus 2020; Guarantees Of SPS For Bank Loans With A Subsidised Interest Rate. Under this measure guarantees will be available to micro companies and SMEs with the following characteristics:

  • SPS will act as a guarantor for the bank loan and will provide 60% or 80% loan insurance to the company.
  • A total of EUR 79.2 million is available with individual guarantees of up to EUR 1.25 million for investment project financing and micro guarantees for financing of current assets of up to EUR 200,000 for medium sized companies and up to EUR 100,000 for micro and small companies.
  • Companies will be charged a lower interest rate amounting to EURIBOR + from 0.50% to 1.00%.
  • There will be a possibility for a 12-month moratorium for financing of current assets and a 24-month moratorium for financing of investment projects.
  • The loan maturity is extended to a maximum of five years for financing of current assets and ten years for financing of investment projects; and
  • there will be no guarantee approval costs.


The tender is open to all micro companies and SMEs with their business headquarters in Slovenia which:

  • perform a business activity as a legal or private entity and are organised as corporate entities, sole proprietors, cooperatives or institutes and social enterprises with a corporate entity status;
  • have at least one and fewer than 250 full-time employees;
  • annual turnover does not exceed EUR 50 million and total assets do not exceed EUR 43 million; and
  • to which the relevant costs will arise between 1 January 2020 and 31 December 2021.


According to SPS the procedure to obtain the guarantee is easy and fast: the average time between application and approval is one month. Companies can submit their applications on 10 April, 5 May, 20 May, 5 June, 20 June, 5 July, 5 September, 20 September, 5 October and 20 October 2020.

For the additional seven measures announced by SPS, please see below.

Slovenian Tourist Organization (STO) 

On 20 March 2020, the STO amended the conditions of its public tender ‘For Co-financing Of Promotion Of Slovenian Tourist Offer in 2020’. Under the amended conditions, STO will give a maximum of 25 points to applicants who will use at least 60% of all funds available in their project for promotion activities during the low season. The total funds available have been increased to EUR 650,000 and the deadlines for applications has been extended to 15 April 2020 and 10 June 2020.

Measures announced  

Slovenian Export and Development Bank (SID Banka) 

SID Banka is preparing a financing programme that will offer short-term loans to SMEs and large companies under the existing de minimis scheme for the purposes of liquidity financing for companies facing the consequences of the coronavirus. Approximately EUR 50 million will be available for six months.

SID Banka will also extend its offer of insurance instruments for exporting companies by offering additional export preparation insurance credit, thereby ensuring insurance and reinsurance coverage of commercial and non-commercial risks related to coronavirus.

Slovenia Enterprise Fund (SPS) 

As mentioned above, the SPS together with MGRT is planning to introduce a package of measures intended for micro companies and SMEs in a total amount of EUR 115 million. In addition to the available guarantee tender, SPS has announced the following seven measures:

  • Liquidity loan: EUR 25 million total funds available with individual loans from EUR 40,000 to EUR 125,000 to eliminate various liquidity problems for micro companies and SMEs, primarily in the hospitality, tourism, automobile, transportation sectors and other manufacturing activities.
  • Microloans for companies from problematic areas (high unemployment and border areas): EUR 12.9 million total funds available with individual loans from EUR 5,000 to EUR 25,000; for investment into tangible and nontangible assets;
  • Temporary closure of vouchers for market research into foreign markets, digital marketing and preparation of digital strategy.
  • Amendments to conditions on voucher tenders: all application deadlines shall be extended by three months and all applications can be submitted with a digital signature.
  • Extension of deadline for submission of tenders for digital transformation of SMEs until 30 September 2020.
  • After the end of the coronavirus emergency situation, the SPS will renegotiate new repayment terms with all holders of SPS microloans by extending an additional moratorium of three to six months for payments of the principal amount.
  • Additional moratorium of three to six months for bank loans at a subsidised interest rate and covered by SPS’s guarantee.