German government announced additional EUR 12.4B in state investment to help companies hit by the coronavirus outbreak. The package agreed by the coalition include liquidity support to companies suffering coronavirus related cash crunch There will be expansions to access to the government subsidized scheme called “Kurzabeit”.
Olaf Scholz, finance minister, pledged that Germany was prepared “to do everything needed to stabilise the economy and secure jobs”. “We will ensure that there is always enough liquidity available for business”. He added that it’s impossible to say if Germany will slip into recession this year.
