Many sectors of the European economy have been hit hard by an outbreak of coronavirus infection. The European Parliament has already approved the procedure for restoring the economic sphere from the consequences of COVID-19, representatives of the press service of the European Parliament said.

The spread of coronavirus has led to the emergence of an economic crisis not only in Europe but throughout the world. The work of most enterprises has been suspended, entire industries have been paralyzed, and unemployment is rising in countries.

Small and medium-sized businesses suffer the most. European states are trying to support entrepreneurs and are developing for them a number of benefits related to lending and taxation.

The Dutch government has already helped more than one hundred thousand businessmen, according to the State Banking Association. Numerous loan programs cannot cope with the situation, and about three quarters of small businesses in the country are in distress, according to the NL Times platform.