Measures taken by governments to save their economies

Measures taken by governments to save their economies

In Europe, governments have already responded to the coronavirus crisis. Let us consider how various European countries cope with the harmful effects of coronavirus.

• France

French Minister of Finance and Economics Bruno le Mayor said that France is ready to take a number of measures to save the country’s economy. “We will urgently provide economic assistance to enterprises and employees in the amount of 45 billion euros,” said Bruno le Mer.

The following measures have been taken:

• deferred in March of all tax and social payments;
• provision of state guarantees for loans to small and medium enterprises in the amount of 300 billion euros.

• Germany

The following measures have been taken:

• mobilization of at least 500 billion euros in the form of loan guarantees;
• unlimited liquidity to companies affected by the pandemic;
• making it easier for companies to access loans from the state development bank;
• deferred tax payments for companies in difficulty.

• Austria

The Austrian government has announced a package of economic assistance in the amount of 4.4 billion euros. The allocated funds will be used to stabilize healthcare, stimulate the labor market, maintain public order and reduce income losses as a result of the coronavirus epidemic.

The following measures have been taken:

• loan guarantees;
• interim loans;
• deferred tax payment;
• reduction of advance tax payments;
• strengthening and accelerating export promotion;
• financial support with companies that have released employees to care for children;
• The Austrian hotel and tourism bank will provide companies with interim financing in the amount of 100 million euros.

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