Austrian Chancellor Sebastian Kurz addresses the media in Vienna, Austria March 13, 2020. REUTERS/Leonhard Foeger/FilesVIENNA: Austria is making 4 billion euros immediately available to deal with the economic fallout from the coronavirus pandemic, the conservative-led government said on Saturday as it ditched a central pledge to balance its budget.
The initial 4 billion euro"corona crisis fund" would cover items such as bridge loans and credit guarantees to shore up businesses' liquidity, Kurz said. Help with shortening working hours for staff and deferring taxes would also be provided.Asked on ORF TV whether the government had a limit on financial aid, or whether it would provide as much money as necessary, the chancellor said:"There is no limit to what is necessary.
In the past, Bluemel and his party have opposed any move towards more flexibility on the European Union's deficit rules. Austria has had 602 confirmed coronavirus cases and one death so far, and the disease is spreading fast. Italy, across the border, has more than 17,000 cases and 1,200 deaths.