The European Commission approved on May 23rd, 2020 a support regulation for Austria in the amount of 8 billion euros , which should compensate the loss of many companies due to the COVID 19 pandemic. The compensation will be given in direct remittances and cover up to 75% of fix costs for the limited period of three months. The highest amount is around 90 million euros per group.
Margrethe Vestager, EU Commissioner for Competition , hopes that this measure will at least partly help Austrian companies and thinks, that EU together with member countries should prepare solutions for the support of companies in the crisis time , which are in compliance with EU- support legislation.
From the start of the Corona crisis Austria has already received the support from the EU in the form of a liquidity regulation of more than 15 billion euros, guarantee regulations for small and medium companies as well as the allowance for regional forms of support.
