COVID-19 Guide to government measures
31 March 2020
PARLIAMENT PASSES NEW LAW ON DIRECT SUPPORT FOR COMPANIES ON THE 15TH OF MARCH
In implementing the measures announced by the Federal Government on 14 March 2020, the Act on Establishing the COVID 19 crisis management fund was passed in parliament. The fund will be established directly at the Federal Ministry of Finance (BMF) and comprise up to EUR 4 billion.
In order to mitigate the economic disadvantages resulting from the measures to prevent the spread of the so-called "coronavirus", the following sectors should be financially supported:
- Stimulation of the labor market
- Mitigating the loss of revenue as a result of the crisis
- Measures facilitating economic recovery
The BMF will forward the available funds to the relevant federal ministries as required.