Daily Management Review

Germany allocates over €1 trillion to support economy and healthcare


In the context of the coronavirus pandemic, German authorities have already provided €1.137 trillion for activities to support the economy and additional investments in the health sector.

public domain pictures
public domain pictures
Over one trillion euros have already been allocated for measures to support the economy in the context of the SARS-CoV-2 coronavirus epidemic in Germany. The total amount of funds allocated at all levels of government and administration amounted to €1.137 trillion. This was announced by the Ministry of Finance of Germany on Monday, April 6 in response to a request from the head of the Left Party faction in the Bundestag Dietmar Bartsch.

The main amount will go to the Economic Stabilization Fund, which should provide financing to entrepreneurs affected by anti-epidemiological restrictions, and provide banks with guarantees for loans taken by business owners.

Other areas of anti-crisis financing are part-time benefits for employees of enterprises who are forced to cut production, support small businesses, and make additional investments in healthcare.

The crisis caused by the coronavirus will be very expensive, Bartsch said in an interview with AFP. The cost of overcoming it will far exceed the losses incurred during the financial crisis of 2007-2008. However, the MP called the activities supported by the fund "reasonable."

source: dw.de