The government announced that Germany will provide financial assistance to companies affected by the coronavirus pandemic until the end of September to help them start normal operations as soon as possible after the crisis.
If companies in Europe’s largest economy can prove that their income has fallen due to the crisis, the assistance they can apply for should have been cancelled at the end of June.
Economy Minister Peter Altmaier said yesterday: “This is an important signal that should allow all companies to resume work at full speed after the crisis.”
“Fortunately, the economy has recovered, but not everyone is like this. That is why we send a clear signal to those who still need support, so that they have a clear sense of security and can plan,” the minister added.
The ministry said that since the outbreak of the new crown crisis, it has provided more than 105 billion euros in funds to the company.
The cabinet of German Chancellor Merkel also decided on Wednesday to extend the wage subsidy program for part-time workers until the end of September to reduce the impact of the labor market crisis.
The plan allows employers to shorten the working hours of workers during the economic downturn, rather than lay off workers. The goal is to keep jobs in the crisis and prevent the unemployment rate from soaring.
The government has allocated approximately 32 billion euros for wage subsidy programs.