Three billion euros in corona economic aid flowed

Released on 30.09. 2021

  • Euro banknotes are on a table. Photo: Patrick Pleul

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Dresden (dpa / sn) – In the Corona crisis, around three billion euros in economic aid for companies and the self-employed in Saxony have flowed so far this year and last year. This included loans and grants, said Minister of Economics Martin Dulig (SPD) on Thursday in the state parliament in Dresden. The Sächsische Aufbaubank (SAB) just got 200 000 Applications processed. “The Corona aid has proven to be an effective instrument,” said Dulig.

The minister referred to the in March 2020 the state’s own aid program “Saxony helps immediately”, via that “in the shortest possible time” loan in the amount of 753 million euros to around 25 000 Company has been given. After a good year 30, 5 million euros had been repaid, it said. Dulig defended the loan program. In the long term, it helped more than a one-off, short injection of funds. “With a subsidy program, the entrepreneurs would have had to organize new aid after just a few weeks and take out expensive loans with higher interest rates.” Stabilization fund. This allows the state to participate in companies in need for a limited time – and thus secure their liquidity 613 million euros to 83 500 paid off to smaller companies. In addition, there is the bridging aid from the federal government, through which 987 millions of euros flowed to Saxon companies and self-employed.

The Saxon labor market has recovered quickly and is back on the level of 2018, said Dulig. According to calculations, the price-adjusted gross domestic product (GDP) rose by 4.3 percent in the first half of the year 2021 compared to the same period of the previous year. Saxony thus recorded the second strongest growth of all German federal states after Baden-Württemberg (5.5 percent). The development is encouraging, but the pandemic has not yet been overcome, stressed Dulig.

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