Germany to give €50K per month to small firms

Germany to give €50K per month to small firms
  • Clock-gray 12:56
  • calendar-gray 25 May 2020

German Economy Minister Peter Altmaier is planning to give €50,000 per month to German companies that have fewer than 249 employees, local media reported on Monday, APA reports citing Tele Trader.

The state aid will also be available to the self-employed and freelancers, with the only condition being that the companies' or individual's earnings fell by at least 60% in April and May.

The assistance should be available to firms from June to December this year in an attempt to curb the negative impact of the coronavirus pandemic.

The Ministry of Economy sees the program costing €25 billion until August. Further costs will depend on the pandemic spead in the fall.

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