German Government Allocates $11.75Bln In Compensation To Companies Closing In November

BERLIN (UrduPoint News / Sputnik - 28th October, 2020) The German government will allocate 10 billion Euros ($11.75 billion) to support companies, which will close from November 2 for a month due to coronavirus-related restrictions, Economy Minister Peter Altmaier on Twitter.

"My thoughts and compassion are with companies and self-employed who have to close for one month so that the spread of the coronavirus is stopped.

You are a valuable part of our culture and identity. That is why we will support your existence with 10 billion euros," Altmaier said on Twitter.

Earlier in the day, German Chancellor Angela Merkel announced that from November 2, restrictive measures will be tightened in Germany in connection with the increase in the number of coronavirus cases. The state will compensate up to 75 percent of income lost due to restrictions to small enterprises employing 50 people or less, she said.