March 20, 2020 / 1:04 PM / 18 days ago

Swiss government discussing $30 billion virus support package - Tages-Anzeiger

ZURICH, March 20 (Reuters) - The Swiss government is considering a 30 billion Swiss franc ($30.58 billion) aid package to support the country’s economy from the coronavirus shutdown, the Tages-Anzeiger newspaper reported on Friday, citing unnamed sources.

Most of the money — around 20 billion francs — has been earmarked for emergency loans to help companies facing cashflow problems due to the crisis.

Around 6 billion francs would go towards extending short- time working arrangements, while 4 billion would be used to help self-employed people who cannot work because of the country’s shutdown of many businesses.

The Swiss government, which has already launched a 10 billion franc support scheme, is due to give an update on its programme later on Friday.

It slashed its forecast for economic growth in 2020 on Thursday, saying it expected the coronavirus outbreak to trigger a recession in Switzerland.

$1 = 0.9809 Swiss francs Reporting by John Revill; Editing by Michael Shields

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below