Corona pandemic: Federal government supports the economy with around 130 billion euros

The federal government has supported the economy with around 130 billion euros since the beginning of the corona pandemic.

Aid of around 60 billion euros was paid out and loans of almost 55 billion euros were granted, as can be seen from a list of the Federal Ministry of Economics, which is available to the German Press Agency in Berlin. There were also recapitalizations and guarantees.

Thanks to the digital application process and the good cooperation between the federal and state governments, it has been possible to approve four million applications for grants since the beginning of the pandemic, according to the paper for the state chancelleries of the states. Around 156,000 commitments were made as part of the KfW special program.

In addition, there were expenses for short-time work benefits. According to the paper, according to the Federal Employment Agency, around 24 billion euros in short-time work benefits and around 18 billion euros on social benefits from short-time work were spent in 2020 and 2021.

“In close coordination with the federal states, we are doing everything we can to ensure that the aid reaches the companies quickly,” said State Secretary Sven Giegold of the dpa. “In view of the current pandemic, we continue to support our companies and employees so that as many companies as possible survive the crisis and the current difficult situation.”

The ministry indicated that the business programs continued. “There is a wide instrument box available.” The bridging aid and the restart aid as well as the easier access to short-time work allowance have just been extended by three months to March 31 of next year. The KfW special program and the KfW quick loan continued until April 30 with increased credit limits. And the KfW investment loan for municipal and social enterprises can be applied for by June 30, 2022.