Coronavirus | Germany extends economic aid to companies affected by crisis

4
1 minute

BERLIN, June 9 - Germany will extend economic aid to companies affected by the coronavirus epidemic until the end of September to help them get back on their feet once the crisis is over, the government said on Wednesday.

The aid, which European companies in Europe's largest economy can claim if they can prove that their revenues were due to collapse due to the crisis, was due to expire at the end of June.

This is an important signal so that businesses can get on with the economy after the crisis again easily, Peter Altmaier said in a statement.

Since the beginning of the coronavirus crisis, according to the ministry, more than 105 billion euros have been made available to firms.

On Wednesday, the Cabinet of Chancellor Angela Merkel also agreed on Thursday to extend short-time work allowances until September in order to offset the effects of the pandemic on the labour market.

Short-time work allows employers during economic downturn to reduce working hours and keep them on the payroll. It aims to prevent shocks such as the coronavirus crisis which lead to mass unemployment.

To date, 32 billion EUR have been made available for the short-time work initiative. Where is your search for a simple to read term?

  • Comments
Loading comments...