The Balearic government is to manage 1,000 million euros of direct aid provided by the Spanish government that will go to 40,160 companies, over 38,000 of them small to medium-sized businesses.
President Armengol, speaking at a press conference on Friday evening, described the aid package as "historic". Almost three-quarters of this aid will go to businesses and the self-employed in Mallorca; 16% will be for Ibiza, 8.6% for Minorca and 1.4% for Formentera.
The secretary of state for the economy and business support, Ana de la Cueva Fernández, who was in Palma on Friday, said that the Balearics money is part of an 11,000 million euros aid package that is largely aimed at the tourism sector in its widest sense as well as retail. Armengol noted that it will also reach manufacturing, culture and sports.
The president thanked the Spanish government for its "sensitivity" and understanding of the "exceptional situation" of the Balearics and the Canaries, which together will get 2,000 million euros of the total package.