Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Australia 05 05 - Health and income support AUD 17,054,600,000 10,604,550,273
Australia 05A 05A - Health support AUD 5,554,600,000 3,453,850,278 IMF. (accessed 8 May 2020).

April, The Commonwealth government has (i) committed to spend almost an extra AUD5 billion (0.3% of GDP) to strengthen the health system and protect the vulnerable people, including those in aged care, from the outbreak of COVID-19; and (ii) introduced temporary measures to ensure the continuity of aged care, amounting to an additional AUD544.6 million.

Australia 05B 05B - Income support AUD 11,500,000,000 7,150,699,995 IMF. (accessed 8 May 2020).

(i) AUD194 billion (9.7% of GDP) support on measures including (a) wage subsidies (6.7% of GDP), (b) income support to households, (c) cash flow support to businesses, (d) investment incentives, (e) targeted measures for affected regions and industries, and (f) an advance authorization of AUD40 billion for unforeseen events. (See Measure 9: No breakdown); (ii) State and territory governments announced stimulus packages of a total of AUD11.5 billion (0.6% of GDP) including payroll tax relief for businesses and relief for households, such as (a) discount utility bills, (b) cash payments to vulnerable households, and (c) support for health spending; (iii) No amount/estimate: The Commonwealth government has committed to provide free childcare to around one million families and announced targeted support to the education system.

Austria 05 05 - Health and income support EUR 35,339,000,000 39,091,814,159
Austria 05A 05A - Health support EUR 339,000,000 375,000,000 OECD. (accessed 15 April 2020).

(i) Additional capacities for mobile and stationary care (EUR100 million); (ii) EUR60 million are granted to the health system; (iii) EUR 130 million are given to hospitals for equipment and to finance over-time payments; (iv) EUR36 million are disbursed to incentivize eligible research on COVID-19 by Austrian firms; (v) EUR13 million on medical supplies.

Austria 05B 05B - Income support EUR 35,000,000,000 38,716,814,159 IMF. (accessed 09 May 2020); OECD. (accessed 15 April 2020); Yale. (accessed 14 May 2020).

(i) April 13, Increased to EUR10 billion (from EUR5 billion) funds for short-time working, self-employed and funds to finance increased costs of caretaking, etc.; (ii) EUR15 billion emergency funds for hard-hit industries to provide direct liquidity provisions and subsidies for running costs. On April 27, expanded Phase 2 of the hardship fund, through which SMEs may request up to 6000 Euros from the government; (iii) EUR10 billion for payment deferrals of personal income and corporate income taxes; (iv) No amount/estimate: rent payment deferrals; (v) No amount/estimate: May 13, proposed a more simple calculation method to determine monetary subsidies by companies to their employees from their own accounts and from the government's funding. Under the new system, no employee should have any losses [update].

Belgium 05 05 - Health and income support EUR 10,200,000,000 11,283,185,841 IMF. (accessed 15 April 2020).

(i) EUR6.4 billion in total measures as part of the fiscal package outlined in the Stability Program to adress the crises. Key fiscal support measures include: boosting health expenditure and increasing support for those in temporary unemployment and self-employed; (ii) EUR3.8 billion (increased from EUR1.7 billion) regional governments' support to affected firms and sectors, and transfers to affected households.

Belgium 05A 05A - Health support EUR
Belgium 05B 05B - Income support EUR
Canada 05 05 - Health and income support CAD 37,116,600,000 26,602,114,316
Canada 05A 05A - Health support CAD 50,000,000 35,835,872 Dept. of Finance.

(i) CAD50 million- Personal protective equipment (PPE)

Canada 05B 05B - Income support CAD 37,066,600,000 26,566,278,445 Dept. of Finance.

(i) Emergency care benefit- CAD10 billion (ii) Emergency Support Benefit- CAD5 billion. (iii) GST Credit- CAD5.5 billion. (iv) Enhanced Canada Child Benefit- CAD1.9 billion. (v) Temporary Business Wage Subsidy- CAD3.8 billion. (vi)Canada Student Loan Payments- CAD190 million. (vii) Support for Indigenous Communities- CAD305 million. (viii) Support for people experiencing homelessness (through Reaching Home)- CAD157.5 million. (ix) Support for women’s shelters and sexual assault centres including on reserve- CAD50 million. (x) Lower Registered Retirement Income Fund Minimum Withdrawal Amounts-CAD495 million (xi) No amount/estimate-Launching Canda Emergency Wage subsidy (CWES) calculator,the CEWS applies at a rate of 75% of the first CAD58,700 normally earned by employees—representing a benefit of up to CAD847 per week, per employee. The program is in place for a 12-week period, from March 15 to June 6, 2020. (xii) CAD20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19. (xiii)CAD15 million in non-repayable support for businesses in the territories to help address the impacts of COVID-19; (xiv)CAD675 million to give financing support to small and medium-sized businesses that are unable to access other COVID-19 business supports, through Canada's Regional Development Agencies; (xv)CAD274 million Creating new jobs and opportunities for youth; (xvi) No amount/estimate; Canada Emergency Response Benefit (CERB) provides a taxable benefit of CAD2,000 every 4 weeks for up to 16 weeks to eligible workers who have lost their income due to COVID-19; (xvii) CAD2.47 billion- clean energy; (xviii) CAD350 million-to support vulnerable Canadians through charities and non-profit organizations; (xviii) No amount/estimate- Waiving ground lease rents through December 2020 for airport authorities that pay rent to the federal government; (xix) CAD500 million-COVID-19 Emergency Support Fund for cultural, heritage, and sport organization to address financial needs of affected organizations so they can continue to support artists and athletes; (xx) CAD5.365 billion for agriculture and fisheries; (xxi) No amount/estimate- Increased payments of 50% to 75% to AgriStability to support farmers that face significant revenue declines; (xxiii) No amount/estimate Flexibility for individual and corporate taxpayers (tax payment deferral until September).

Denmark 05 05 - Health and income support DKK 265,087,000,000 39,245,825,711
Denmark 05A 05A - Health support DKK 150,000,000 22,207,328 OECD. (accessed 30 April 2020).

March 30, DKK150 million in subsidies provided to health research specifically related to COVID-19.

Denmark 05B 05B - Income support DKK 246,437,000,000 36,484,715,269 OECD. (accessed 30 April 2020). Denmark Government. (accessed 14 May 2020)

(i) March 10, DKK32.5 billion liquidity effect of deferral of monthly VAT payments for large firms; (ii) March 12, No amount/estimate: Short-time Work Scheme made more flexible ; (iii) DKK10 million for upskilling of dismissed employees; (iv) DKK1.7 billion sickness benefit reimbursement available from 27 February to 1 January 2021; (v) March 26, DKK1.1 billion liquidity effect of deferral of property taxes; (vi) DKK2.5 billion frontloading of investments in e.g. energy renovation and similar initiatives in municipalities; (vii) March 26, DKK6.5 billion frontloading of payment by local governments to firms; (viii) March, DKK74 billion liquidity effect of deferral of income tax payment and labor market contributions; (ix) April 1, DKK300 million compensation scheme to event organizer companies extended; (x) April 7, DKK1.2 billion for a range of minor support schemes established to support agents and businesses with cultural activities, sports and private education; (xi) April 18, DKK 6 billion for the Job Retention Scheme available from 9 March to 8 July 2020. Take-up rate around 5% of the labour force (150,000 employees) on 19 April; (xii) April 18, DKK277 million for increased access to unemployment and sickness benefits; (xiii) April 18, DKK65.3 billion compensation scheme for companies’ fixed costs available for the period 9 March to 8 July; (xiv) April 18, DKK14.3 billion compensation scheme for self-employed; (xv) April 18, DKK350 million for Innovation Subsidy Scheme to support new projects; (xvi) April, DKK35.4 billion VAT payments already made for second half and last quarter of 2019 are made available as interest free loans; (xvii) April, DKK5 billion liquidity impact of deferral of provisional taxes for self-employed; (xviii) May 14, No amount/estimate: Increased holiday and time-off benefits for students, apprentices, and trainees. [update]

Finland 05 05 - Health and income support EUR 22,578,000,000 24,975,663,717
Finland 05A 05A - Health support EUR 1,005,000,000 1,111,725,664 IMF. (accessed 15 April 2020).

March 20, (i) EUR1 billion for healthcare and testing, protection and medical equipment, public safety and border controls, and research on the coronavirus epidemic, in particular to develop methods for rapid diagnostics and vaccines and a knowledge base for timely decision-making on coronavirus measures, (especially on the exit strategy; (ii) EUR5 million contribution to international non-profit companies working on the development of a COVID-19 vaccine.

Finland 05B 05B - Income support EUR 21,573,000,000 23,863,938,053 IMF. (accessed 9 May 2020); MEE. (accessed 3 May 2020).

March 20, (i) EUR1.05 billion (increased from EUR900 million) in lower pension contributions through the remainder of 2020; (ii) EUR650 million for grants to SMEs and self-employed; and (iii) EUR3 billion for expanded parental allowance, social assistance and unemployment insurance; (iv) EUR4.5 billion in tax and pension payment deferrals; (v) EU12 billion in increase in fiscal deficit from automatic stabilizers (4-5.0) percentage points of GDP; (vi) April 20, EUR250 million grants for sole proprietors for the cost of running business; (vii) EUR40 million to support restaurants in employing workers and EUR83 million compensation for the imposed restrictions on activities [update].

France 05 05 - Health and income support EUR 74,950,000,000 82,909,292,035
France 05A 05A - Health support EUR 8,310,000,000 9,192,477,876 OECD. (accessed 15 April 2020).

(i) EUR260 million (from the unspent reserves in the 2019 budget) and EUR3.5 billion from the (2020 budget allocation for the healthcare system; (Iii) EUR4.5 billion of additional funds for the purchase of equipment and other health expenses; (iv) creation of an additional emergency fund of EUR50 million for research on Covid-19.

France 05B 05B - Income support EUR 66,640,000,000 73,716,814,159 OECD. (accessed 14 May 2020); Economie. (accessed 15 April 2020); Figaro. (accessed 2 May 2020);

(i) EUR8.5 billion for short-time work scheme; (ii) April 27, EUR7 billion (increased from EUR1.5 billion) for the solidarity fund to support income for the self-employed and smallest firms; (iii) EUR48.5 billion in postponement of social and fiscal deadlines and the early reimbursements of tax credits (2.0% of 2019 GDP); (iv) No amount/estimate: tax exemptions for bonuses in "essential" sectors; (v) March 25, EUR1.75 billion in tax breaks and grants to startups; (vi) April 20, EUR390 million road transport fund (liquidity for road transport sector); (vii) EUR0.5 billion for postponement of part of the unemployment insurance reform [update].

Germany 05 05 - Health and income support EUR 629,000,000,000 695,796,460,177
Germany 05A 05A - Health support EUR 61,300,000,000 67,809,734,513 Federal Ministry of Finance. (accessed 17 April 2020); OECD. (accessed 17 April 2020).

(i) March 23, EUR3.5 billion for emergency measures, such as procuring protective suits and masks, funding for development of a vaccine and treatment, support services provided by the Federal Armed Forces, assistance for German and European Union citizens abroad, and public outreach to keep the population informed; (ii) EUR55 billion funds made available for further pandemic control projects; and (iii) EUR2.8 billion will be provided by the Federal government as additional funding for hospitals to balance losses due to rescheduled surgeries and to increase intensive care unit (ICU) capacity.

Germany 05B 05B - Income support EUR 567,700,000,000 627,986,725,664 Federal Ministry of Finance. (accessed 17 April 2020); Bruegel. (accessed 17 April 2020); Federal Ministry of Finance and Federal Ministry for Economic Affairs and Energy. (accessed 17 April 2020); Tax Foundation. (accessed 17 April 2020); OECD. (accessed 30 April 2020; 8 May 2020); Bundesministerium der Finanzen. (accessed 9 May 2020)

(i) March 23, EUR50 billion in direct grants to distressed one-person businesses and micro-enterprises; (ii) EUR7.7 billion to expand access to welfare payments such as child allowance and income support, removing means-testing rules, and including self-employed workers; (iii) EUR500 billion (Bruegel estimate) tax deferrals for businesses, that is, EUR70 billion for direct corporate income tax plus EUR430 billion if we include indirect taxes and social contributions (assuming 75% tax deferral and 5% of gross domestic product [GDP] loss in 2020); (iv) EUR10 billion for keeping people employed, by expanding the reduced hours compensation benefit scheme (‘Kurzarbeitergeld’); and (v) Subsidies to loans (included in the EUR357 billion mentioned in Measure 1) made available through KfW; (vi) No amount/estimate: April 22, The government decided to increase the replacement rate of lost net earnings to 70% for childless workers and to 77% for workers with children from the fourth month of short-time work onwards if they have reduced their working time by at least 50%. In the seventh month, payments are increased further to 80% and 87% respectively; (vii) April, The labour agency will cover 100% of social-security contributions for lost hours of short-time workers; (viii) No amount/estimate: Starting on July 1, the reduced VAT rate of 7% will be applicable to restaurants for 12 months [update]; (ix) No amount/estimate: May 6, (a) Sales tax rate for restaurant and catering services rendered between 30 June 2020 and 1 July 2021 will be reduced from 19% to 7%, except for beverage sales; (b) Employer grants for short-time work benefits and seasonal short-time work benefits for wage payment between 29 February 2020 and 1 January 2021 will be up to 80% of the difference between the target salary and the actual salary [update]; (x) No amount/estimate: May 14, The ruling coalition agreed to extend the maximum unemployment benefit duration by three months for all claimants whose entitlements end between 1 May and 31 December [update].

Ireland 05 05 - Health and income support EUR 9,555,000,000 10,569,690,265
Ireland 05A 05A - Health support EUR 1,005,000,000 1,111,725,664 OECD. (accessed 15 April 2020).

(i) Extra funding of EUR1 billion (0.5% of GNI) to the Health Service Executive for improving capacity in the health service; (ii) EUR5 million allocate for 26 COVID-19 research projects.

Ireland 05B 05B - Income support EUR 8,550,000,000 9,457,964,602 OECD. (accessed 15 April 2020); DBEI. (accessed 9 May 2020); IMF. (accessed 9 May 2020).

March 9, The government has so far announced a stimulus package of EUR6.3 billion (3.2% of GDP) in response to the COVID-19 pandemic. It includes EUR2.4 billion for illness benefit payments announced on 9 March, as well as a further EUR3.7 billion announced on 24 March to cover the cost of a new Wage Subsidy Scheme. The government has also announced direct financial support for businesses. No amount/estimate: (i) Local Enterprise Offices in every county will be providing vouchers from EUR2,500 up to EUR10,000; (ii) a Finance in Focus grant of EUR7,200 will be available to Enterprise Ireland and Údarás na Gaeltachta clients; (iii) the government agreed with local authorities that they should defer business rates payments due from the most immediately affected businesses until the end of May; (iv) variety of taxation measures to alleviate short-term difficulties. For example, interest on late payments and all debt enforcement activity have been suspended and current tax clearance status will remain in place for all businesses; (v) Moratoriums on evictions and rent increases for duration of Covid emergency. The Commission for Regulation of Utilities has issued a moratorium on disconnections of domestic customers for non-payment to the gas and electricity suppliers; (vi) EUR250 million restart grant for micro and small businesses based on a rates/waiver rebate from 2019 [update]; (vii) EUR2 billion (estimate) for a three month commercial rates waiver for impacted businesses and the ‘warehousing’ of tax liabilities for a period of twelve months after recommencement of trading during which time there will be no debt enforcement action taken by Revenue and no interest charge accruing in respect of the warehoused debt [update].

Italy 05 05 - Health and income support EUR 26,655,000,000 29,485,619,469
Italy 05A 05A - Health support EUR 3,200,000,000 3,539,823,009 OECD. (accessed 15 April 2020).

EUR3.2 billion for the national health service and to support civil protection.

Italy 05B 05B - Income support EUR 23,455,000,000 25,945,796,460 OECD. (accessed 15 May 2020); MIPAAF. (accessed 18 May 2020); Milano Today. (18 May 2020).

(i) EUR5.0 billion to strengthen the wage supplementation scheme for furloughed employees; (ii) EUR400 million for one-year suspension in the repayment of real estate mortgages by workers having lost their job; (iii)EUR2.3 billion for one-off EUR 600 payment to the self-employed &seasonal workers; (iv) No amount/estimate: Allowance of EUR500 per month for up to 3 months for self-employed workers in the municipalities most affected; (v) EUR1.3 billion to strengthen childcare support; (iv) EUR30 million for EUR1000 childcare payment to employees in the healthcare and law enforcement sectors; (v) EUR0 5 million to raise by 12 days the paid leave for disabled workers and workers caring for a disabled relative; (vi); EUR130 million to extend sick leave to cover days spent in quarantine; (vii) EUR900 million for a EUR 100 one-off bonus to workers who continued to work at their workplace. For companies: (i) EUR540 million for 60% tax credit on commercial rents; (ii) EUR50 million for incentives to firms to sanitise workplaces; (iii) EUR600 million for suspension of collection of tax collection files; (iv) suspension for 2 months of tax and social security payments in the municipalities most affected; (v) EUR10 billion for suspension of all the tax and social security payments coming due in March; (vi) suspension of 2 months (until end of April) in the payment of the electricity, gas, water and waste bills in the most affected municipalities; (vii) Non-application of withholding tax for professionals without employees, with revenues below EUR400,000 until 31 May 2020; (viii) Incentive to sell impaired loans (NPLs) by converting deferred tax assets (DTA) into tax credits for financial and industrial companies; (ix) EUR1.7 billion to provide fee-free guarantee for SMEs loans [update]; (x) EUR500 million Emergency Fund to protect supply chains in crisis”, to cover damage by the agricultural, fishing and aquaculture sector, and “and the slowdown in exports” (especially for livestock). It is a partial compensation of stocks (costs of storage and seasoning of these products); (xi) May 7, New Covid-19 emergency fund of EUR 100 million to agriculture sector (interest subsidy and direct aid) [update].

Japan 05 05 - Health and income support JPY 125,100,000,000,000 1,165,967,645,297 IMF. (accessed 6 May 2020); Prime Minister of Japan and His Cabinet. (accessed 13 April 2020); Prime Minister of Japan and His Cabinet. (accessed 13 April 2020); Prime Minister of Japan and His Cabinet. (accessed 24 April 2020).

(i) April 7, The Government of Japan adopted the Emergency Economic Package Against COVID-19 of JPY117.1 trillion (21.1% of gross domestic product [GDP]) [update] and subsumed the remaining part of the previously announced packages (the December 2019 stimulus package (passed in January 2020) and the two COVID-19-response packages announced on February 13 and March 10, respectively). The April package aims at five objectives: (a) Develop preventive measures against the spread of infection and strengthen treatment capacity (expenditure of 0.5% of GDP); (b) Protect employment and businesses (15.1% of GDP); (c) Regain economic activities after containment (1.6% of GDP); (d) Rebuild a resilient economic structure (3% of GDP); and (e) Enhance readiness for the future (0.3% of GDP; the key measures under the package comprise cash handouts to affected households and firms, and deferral of tax payments and social security contributions). (ii) As of April 17, cash payment of JPY100,000 per person will be given to all citizens nationwide, from previously planned JPY300,000 to each household in need whose income has declined significantly so that the total amount of cash payments will expand significantly, from the scale of JPY6 trillion to more than JPY14 trillion.

Japan 05A 05A - Health support JPY
Japan 05B 05B - Income support JPY
Luxembourg 05 05 - Health and income support EUR 8,257,000,000 9,133,849,558
Luxembourg 05A 05A - Health support EUR 194,000,000 214,601,770 OECD. (accessed 9 May 2020).

Additional expenditures in the context of health and crisis management, notably for the procurement of medical equipment and infrastructure (up to EUR194 million).

Luxembourg 05B 05B - Income support EUR 8,063,000,000 8,919,247,788 IMF. (accessed 19 April 2020; 9 May 2020). EU (accessed 14 May 2020)

March 25: (i) EUR1.45 billion fiscal package adopted by the Parliament, including: (a) EUR400 million (0.6% of 2019 GDP) coverage of employees’ leave for family reasons, (b) EUR1 billion (1.6% GDP) paying partial-unemployment benefits, and (c) EUR50 million (0.1% percent of 2019 GDP) providing non-repayable financial aid to micro enterprises; (ii) Part of the fiscal package adopted by the Parliament: Postponing tax and social-security contribution payments for the first two quarters of the year (EUR4.5 billion); April 30, EUR2.257 billion fiscal package has been partly adopted by the Parliament, including spending measures: Key spending measures include: (a) acquiring medical equipment and infrastructure (EUR194 million, 0.3% of 2019 GDP); (b) covering employees’ leave for family reasons (EUR226 million, 0.4% of 2019 GDP) and sick leave (EUR106 million, 0.2% of 2019 GDP); (c) paying partial-unemployment benefits (EUR1 billion, 1.6% of 2019 GDP); (d) granting capital advances to cover companies’ operating costs (EUR400 million, 0.6% of 2019 GDP); and (e) providing non-repayable financial aid to micro enterprises and eligible self-employed (EUR250 million, 0.4% of 2019 GDP); (iii) Liquidity support measures include postponing tax and social-security contribution payments for the first half of the year (EUR4.55 billion). [update]

Netherlands 05 05 - Health and income support EUR 49,050,000,000 54,258,849,558
Netherlands 05A 05A - Health support EUR
Netherlands 05B 05B - Income support EUR 49,050,000,000 54,258,849,558 OECD. (accessed 9 May 2020); Bruegel. (accessed 15 April 2020); Riksoverheid. (accessed 11 May 2020).

(i) April 1, EUR10 billion for temporary compensation of employers’ wage costs, up to 90% of wage bill, conditional on at least 20% fall in turnover in the months March to May compared to 2019 (NOW scheme). In addition, the government will cover 30% of pension contributions and the employers' premium; (ii) EUR2 billion for compensation of self-employed and independent entrepreneurs without staff; (iii) EUR465 million in emergency support in the form of a lump sum of EUR4,000 for businesses that were forced to close doors due to government regulations (TOGS scheme); (iv) EUR175 million for Childcare Compensation for parents who continue paying for childcare during the lockdown (8 April); (v) EUR36 billion for deferral of tax collection of VAT, income, corporate, wage and turnover taxes from companies; No amount estimate: (vi) April 1, the government will cover 30% of pension contributions and the employers' premium (1 April); (vii) March 30, self-employed (without employees) hit by the corona crisis are to receive monthly 1,050 'euros over the next three months, irrespective of their savings. For married couples or couples with children a maximum of EUR 1,500 a month will apply; (viii) April 17, EUR300 million grants for the culture sector, including museums and theatres [update]; (ix) May 1, EUR110 million to support sports clubs. [update]

New Zealand 05 05 - Health and income support NZD 25,600,000,000 15,483,246,643
New Zealand 05A 05A - Health support NZD 500,000,000 302,407,161 IMF. (accessed 12 May 2020).

(i) April, NZD0.5 billion (0.2% of GDP) for healthcare-related spending to reinforce capacity; (ii) No amount/estimate: March 28, The government announced the temporary removal of tariffs on all medical and hygiene imports needed for the COVID-19 response.

New Zealand 05B 05B - Income support NZD 25,100,000,000 15,180,839,482 IMF. (accessed 14 May 2020); New Zealand Treasury. (accessed on 15 May 2020).

April, (i) Total NZD2.4 billion (0.8% of GDP) as permanent increase in social spending to protect vulnerable people over the next 4 years; (ii) NZD13 billion (4.3% of GDP), a lumpsum 12-week wage subsidy to support employers severely affected by the impact of COVID-19. On May 14, the government announced additional funding of up to NZD3.2 billion in Budget 2020 for a targeted extension of the wage subsidy. The targeted extension provides for a further 8 weeks of payments after the program ends on June 9 [update]; (iii) NZD2.8 billion (0.9% of GDP) of permanent change in business taxes to help cashflow over the next 4 years; (iv) NZD3.1 billion as temporary tax loss carry-back scheme (1% of GDP) over the next 2 years; (v) NZD0.6 billion (0.2% of GDP) support for the aviation sector; (vi) No amount/measure: 6-month freeze on residential rent increases and increased protection of tenants for termination of tenancies.