11/25/2020, 10:39 AM (Source: TeleTrader)
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France to spend €1.6B monthly for business aid - Le Maire

French Economy and Finance Minister Bruno Le Maire announced on Wednesday that his government is ready to spend €1.6 billion per month to support businesses closed due to the coronavirus-related restriction measures.

Until now, only the companies that were forced to close and had less than 50 employees were eligible to receive financial relief from the government. According to Le Maire, this is about to change so it covers all businesses regardless of their size. The plan is to cover up to 20% of their turnover for the period that they do not operate.

The French minister repeated that compliance with a strict health protocol is a prerequisite to any thoughts about re-opening businesses.

Breaking the News / CG