With Germany opening vaccinations to all sectors of the population, the German government has acknowledged the lasting economic effect that the pandemic has had on local businesses, deciding to extend its economic aid to companies that have been damaged by the coronavirus pandemic until the end of September.
Originally revealed by a government source to Reuters on Wednesday, the cabinet of German chancellor Angela Merkel is expected to officially agree to this new term later in the day. This will see multiple short-term work allowances be allotted to certain businesses until the end of September with the goal of curbing the effect of the pandemic on the labor market, particularly in terms of employment.
In order to qualify for government economic aid, businesses must be able to prove that their revenues have indeed collapsed during the pandemic. Initially, the period for this relief program was to expire at the end of June.
While supportive of this decision, Economy Minister Peter Altmaier revealed that he prefers to extend this relief program until the end of the year in order to prevent it from becoming a bargaining chip during the upcoming federal elections in Germany, which is to be held in September.
