US Treasury Secretary expects most of economy to open by end of summer

US, WASHINGTON (ORDO NEWS) — US Treasury Secretary Stephen Mnuchin expects that most of the US economy will be restarted by the end of August, after the outbreak of coronavirus and related restrictive measures led to the temporary closure of most enterprises in the country, Bloomberg reports.

“We are working in the conditions in which we are going to open parts of the economy, and we look forward to – by the time we get to the summer – opening, if not all, then most of the economy,” Mnuchin said.

On April 23, US House lawmakers plan to pass a $ 484 billion allocation in financial aid, thereby increasing the total package of $ 2.2 trillion, the law was signed less than four weeks ago.

In the end, US small businesses will gain access to more than $ 600 billion in federal aid through loans from the Small Business Administration.

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