Denmark’s Government Plans $6 Billion Aid Package for Companies
Denmark’s Government Plans $6 Billion Aid Package for Companies
(Bloomberg) -- Denmark’s government plans to pay some of the fixed costs for companies hurt by the coronavirus in an aid package worth about 40 billion kroner ($6 billion).
Companies with a revenue decline of at least 40% can seek the funds to cover cost items like rent, Finance Minister Nicolai Wammen said on Wednesday in a Copenhagen briefing. Firms with no more than 10 employees can seek government aid for as much as 23,000 kroner a month if they have lost at least 30% of their revenue.
The government has this month introduced a number of aid packages for the country’s banks, companies and employees. The central bank has said it will increase 2020 bond sales by 50 billion kroner to cover increased spending.
“We have the muscles to take the necessary decisions,” Wammen said at the briefing, adding he was willing to spend more if needed. Denmark’s finances won’t be jeopardized by the increased spending because the economy is “rock solid,” he said.
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