Germany to extend aid for companies hit by COVID-19 - source

Germany plans to extend economic aid for companies hit by the coronavirus pandemic until the end of September, a government source told Reuters on Wednesday. Chancellor Angela Merkel's cabinet is expected on Wednesday to agree to extend special short-time work allowances until the end of September to offset the effect of the coronavirus pandemic on the labour market.

Germany plans to extend economic aid for companies hit by the coronavirus pandemic until the end of September, a government source told Reuters on Wednesday. The aid, which companies can claim if they can prove their revenues have collapsed due to the crisis, had been due to expire at the end of June.

Economy Minister Peter Altmaier has said he favours an extension until the end of the year so that it does not become an issue in the federal election in September. Chancellor Angela Merkel's cabinet is expected on Wednesday to agree to extend special short-time work allowances until the end of September to offset the effect of the coronavirus pandemic on the labour market.

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