Balearic industry gets 4.8 million euros in war aid

Palma, Mallorca: Balearic industry receives 4.8 million euros in aid to soften the economic effects of the war in the Middle East. The Balearic government said on 7 November that it had paid 90 per cent of the aid. Every application submitted without deficiencies has been paid, according to the Balearic Ministry for Business, the Self-Employed and Energy.

Of the money paid so far, 4.4 million euros covers rising fuel and raw material costs. Another 425,825 euros supports the transport of goods for export.

The government expects to pay a further 348,600 euros in the coming weeks: 256,000 euros towards higher costs and 92,600 euros for export transport. Once those payments are made, the total paid across the two aid schemes will reach 5.1 million euros.

Topics: Economy

Source: Europa Press / Mallorca.com