Banned layoffs in Argentina and subsidies of two billion companies for Germany

With the worsening of the second wave of the Corona pandemic, several countries took proactive measures to protect their economy from the negative repercussions of the epidemic.

In Argentina, the government decided to extend the ban imposed on companies with regard to layoffs, until the end of next February.

The Minister of Labor, Claudio Moroni, told the local radio station “La Reed” in Buenos Aires, that although the government is recovering from the decline in economic activity that it was exposed to due to the Corona virus, it is not yet time to stop this exceptional measure.

This is the fourth extension of that measure, which was implemented last March.

On the other hand, informed sources said that Germany is expected to pay 22 billion euros (26 billion dollars) to companies and private entrepreneurs as aid to mitigate the effects of the Corona virus.

The subsidies will be disbursed from January through June 2021, with the pandemic’s impact extending into next year.

The sources added that the German aid package related to the Coronavirus in November to compensate companies affected by the general isolation measures will reach 14 billion euros this month.

The government had initially expected to pay tens of billions of euros.

The German government’s Council of Economic Advisers expects the economy to contract at a smaller rate than initially expected this year thanks to a strong summer, but the second wave of the Covid-19 pandemic is affecting growth prospects for 2021.

As part of the new round of measures to mitigate the effects of Covid-19, companies can receive up to 200,000 euros per month to cover fixed costs such as rent.

While private entrepreneurs can get up to five thousand euros.

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