Germany boosts investments to bolster economy amid virus fallout

Germany boosts investments to bolster economy amid virus fallout

The government of German Chancellor Angela Merkel has taken its first steps to help companies and workers affected by the fallout from the coronavirus outbreak and will invest an additional 12.4 billion euros (US$14.1 billion) between 2021 and 2024, The Jakarta Post reports.

After more than seven hours of talks on Sunday night, Merkel’s coalition loosened rules for short-term work compensation, making it easier for big companies heavily affected by the virus like Deutsche Lufthansa AG to apply for aid to offset wages when they are forced to temporarily halt work. “No company in Germany should go bankrupt and no job should get lost due to the coronavirus,” the coalition said in a statement after the meeting.

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