Germany has spent about 42 billion euros ($ 48 billion) on a program to secure jobs threatened by the coronavirus pandemic.
A government plan to pay most of an employee’s wages when they can not work due to operational issues such as lockdowns was worth the cost, German Labor Minister Hubertus Heil said in an interview with the Tagespiegel on Sunday, according to Bloomberg.
“The alternative – to allow the return of mass unemployment – would be much, much more expensive for Germany, socially and economically,” he said.
The program was just one of the measures taken by the government in Berlin to shield its economy from the crisis. Since the beginning of the pandemic, Germany has also paid about € 78 billion in corporate aid and € 55.2 billion in loans.
Source: Capital
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