April 30, 2020 / 8:55 AM / a month ago

Swedish govt offers companies $4 bln to replace revenues lost to virus

STOCKHOLM, April 30 (Reuters) - Sweden’s government said on Thrusday it would offer companies financial support for revenues lost due to virus outbreak in a measure worth around 39 billion Swedish crowns ($3.96 billion).

“The aim is that the support will make it possible for companies to get through the acute phase of the crisis and at the same time to adjust and restructure their operations,” the government said in a statement.

Finance Minister Magdalena Andersson said the measure would bring the government’s spending package to cushion the effects of the virus outbreak on the economy to around 170 billion crowns. It has also offered 550-600 billion in loans and guarantees. ($1 = 9.8439 Swedish crowns) (Reporting by Simon Johnson; editing by Johan Ahlander)

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