Germany has weathered the recession better than many expected, the conservative politician said in Berlin on Thursday.

He said that since the pandemic began in the spring of 2020, the state has spent a total of 300 billion euros (366 billion dollars) to mitigate the downturn.

Thanks to this “unprecedented joint show of strength,” it has been possible to avert serious damage to the domestic economy.

Hundreds of thousands, presumably up to 1 million, jobs have been secured, he said.

Altmaier advocated extending the coronavirus economic aid for needy companies beyond June 30 until the end of the year, if possible. He was counting on a final agreement with his coalition partner, the Social Democrats (SPD), in the coming week.

He stressed that abuse of the system would be ruled out. The companies applying for the extension would have to provide concrete evidence of their lost sales.

Exactly one year ago, the federal government approved an economic stimulus package of 130 billion euros to help citizens and businesses get back on their feet.

A reduction in value-added tax (VAT) for several months and a child bonus were aimed at boosting private consumption, and higher premiums implemented to encourage the purchase of electric cars.

Electricity customers were relieved by a reduction in the renewable energy sources act (EEG) levy.

There were also billions in aid for municipalities and particularly burdened companies.