German economy minister aims to extend aid for COVID-hit businesses
German Economy Minister Peter Altmaier said he aimed to extend until the end of the year aid for businesses hit hard by the coronavirus pandemic.
Talks on the six-month extension of aid to help cover business’s fixed costs are ongoing, Altmaier said on Friday, adding he hoped for a decision before the parliament’s summer break.
A third wave of coronavirus infections linked to a more transmissible variant and a slow vaccination roll-out are complicating efforts to ease lockdown measures in Europe’s biggest economy that have been in place for months already.
German Finance Minister Olaf Scholz last month promised to do whatever was needed to enable Germany to spend its way out of a coronavirus-induced economic slump, as the government backed an extra budget that will lift new borrowing to a record high.
Source: Reuters (Reporting by Christian Krämer; Writing by Maria Sheahan Editing by Caroline Copley)