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Poland, Austria, Denmark announce stimulus packages to fight virus impact

Poland, Austria and Denmark pledged deeper support to businesses and individuals affected by the coronavirus pandemic as Europe strives to control the spread of the virus while maintaining economic stability, Reuters reported.

Polish Prime Minister Mateusz Morawiecki announced a fiscal stimulus package worth $212 billion Polish zlotys to fight the impact of the virus outbreak, according to the report.

The measures will help companies pay wages, allow employees to temporarily defer their social security charges and enable the government to spend on infrastructure, Morawiecki said.

Austrian Chancellor Sebastian Kurz said the government will spend €38 billion to support companies through the crisis, according to Reuters. The country will also supply €9 billion in guarantees and warranties, €15 billion in aid and €10 billion in tax deferrals, the report added.

Danish Finance Minister Nicolai Wammen announced at a press conference that the government is planning a $5.8 billion package to help small enterprises weather economic disruptions.

The three countries join the U.K., the European Union and some of its member states that have announced measures to support their economies amid the coronavirus outbreak.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.

As of March 18, US$1 was equivalent to 4.18 Polish zlotys.