BERLIN (Reuters) – Germany is extending its COVID-19 emergency aid for struggling companies by three months until the end of this year, the finance and economy ministries said on Wednesday. The government also extended additional aid schemes to support companies hit particularly hard by the pandemic as well as musicians, artists and other solo self-employed. Since the beginning of the coronavirus crisis in Germany in March 2020, the government has supported struggling companies with special loans and grants worth nearly 120 billion euros. In addition, the government invested 38 billion euros through its short-time work scheme to shield workers from the brunt of the pandemic, keeping unemployment in check and stabilizing the disposable income of consumers. Finance Minister Olaf Scholz is financing the measures with record new borrowing of up to 240 billion euros this year and more than 130 billion euros last year for which parliament had to suspend strict debt limits in the constitution.

Source: MetroXpress September 08, 2021 16:07 UTC