Minister Schramböck: Our economy was great before the crisis and will be great again afterwards”
Economics Minister Margarete Schramböck has agreed to an interview. She explains what companies can rely on in the current Corona crisis. The priority is to retain employees.

Minister Schramböck: Our economy was great before the crisis and will be great again afterwards”
Madam Minister, the Corona crisis is having a massive impact on the local economy. What losses do you expect for Austria this year?
I can't give an order of magnitude here yet. We are currently concentrating all our efforts on preventing losses and supporting entrepreneurs in this situation, which is certainly the most difficult since the Second World War.
Are there any companies or industries that you particularly have in mind?
We will support all companies in all areas. This is very important. It's not just about large leading companies, but also about medium-sized businesses, micro, small and medium-sized businesses, EPU and especially family businesses. We will support you all and accompany you through this difficult phase. We will not forget the newly self-employed people who have a particularly difficult situation. We will have to help across the board and have put together an aid package worth 38 billion euros.
Nobody yet knows how long social life and therefore the economy will be paralyzed. Do you think it will stay at 38 billion?
Costs do not play a role in dealing with this crisis. We provide the support it needs. We have 4 billion mobilized as emergency aid and now a further 25 billion as emergency aid for particularly affected sectors. In addition, tax deferrals are available on a large scale, as are guarantees for loans. We want to maintain liquidity and secure as many jobs as possible.
Which places can companies now apply for support?
There are the following options for companies: Firstly, you can apply to the social insurance for a deferral and have your assessment base reduced and also apply for a waiver of late payment interest. The second route leads to the AMS to register Corona short-time work. The third to AWS to apply for warranties. The employees are already well trained, so it should go quickly.
Do you have any information you can use to encourage companies to persevere?
Austria’s entrepreneurs are very courageous. We trust them and they can also trust us that we will take the right measures and provide money and guide them through this difficult phase. Above all, we will pay attention to taking measures to be able to retain employees. We are constantly working on solutions and I am grateful for input on how we could change something when errors creep in. I ask all companies: have trust. It will pass. It is a virus that will disappear. Our economy was great before the crisis and will be great again after!