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German gov’t plans 22 billion euros in coronavirus aid for companies

As part of the new round coronavirus relief measure, companies can get up to 200,000 euros a month to cover fixed costs such as rent, while solo entrepreneurs can get up to 5,000 euros.
14.11.2020 - 16:06

Germany expects to pay out 22 billion euros ($26 billion) in coronavirus relief aid from January through June 2021 to companies and self-employed people, people close to the matter said, as the impact of the pandemic extends into next year.

GOVERNMENT HAD EXPECTED TO PAY OUT 10 BILLION EUROS

Separately, Germany’s November coronavirus aid package to compensate firms affected by lockdown measures will this month amount to 14 billion euros, they said. Initially, the government had expected to pay out 10 billion euros.

The German government’s council of economic advisers expects the economy to shrink less than initially feared this year thanks to a strong summer, but a second wave of the coronavirus pandemic is clouding the growth outlook for 2021.