Germany reportedly plans to support medium-size firms by up to €50,000 per month

Author: Justin Low | Category: News

DPA reports on the matter, citing a government document

The report says that the German economy ministry wants to support medium-sized companies with less than 250 employees by paying them up to €50,000 per month from the period of June to December.

The good news for the firms involved is that those already receiving aid from the federal or state governments will remain eligible to apply for this plan.

But in order to be eligible, a company should have recorded at least a 60% y/y drop in sales for the months of April and May i.e. those largest hit by the virus impact.

The program is reportedly set to cost €25 billion by August with further costs set to depend on the virus developments in the country.
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