COPENHAGEN, March 10 (Xinhua) -- Danish business and employees will be offered 125 billion DKK (19 billion U.S. dollars) as part of three-pronged economic initiatives to strengthen the economy from the impact of COVID-19, said Finance Minister Nicolai Wammen at a press conference on Tuesday.
There have been 262 confirmed infections of COVID-19 across the country, according to the website of the Danish Patient Safety Authority.
"The day has come to use one of the great tools we have. What we present today is the first wave. There is more to come," said Wammen.
The first of the three government initiatives will be to postpone the deadline for the payment of value-added tax (VAT).
Secondly, the government will provide compensation for lost revenue and additional expenses to organizers of major events affected by government recommendations based on COVID-19.
In addition, the government and businesses will jointly establish a special unit discussing "targeted and concrete proposals for interim measures" to address current challenges.
"The COVID-19 is going to have financial consequences because companies are being forced down for a period of time. But with the initiatives we have put in place, we can avoid the risk that it will go deeper than necessary," said Wammen.