Germany unveils US$146b stimulus to kickstart coronavirus-hit economy

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BERLIN: Germany will plough 130 billion euros (US$146 billion) into a stimulus package to kick-start an economy severely hit by the coronavirus ...

German Chancellor Angela Merkel addresses a press conference at the Chancellery in Berlin.BERLIN: Germany will plough 130 billion euros into a stimulus package to kick-start an economy severely hit by the coronavirus pandemic, Chancellor Angela Merkel said on Wednesday .

Noting that millions of employees in Germany have been put on shorter working hours, Merkel said that"shows how fragile the whole thing is, and why we must succeed in giving the economy a push so that jobs can be secured."Advertisement With new infections sharply dropping, Europe's biggest economy began easing social restrictions in early May, allowing shops to reopen while restaurants and tourist businesses are taking the first tentative steps.Merkel has said the support programme will help"the economy to find its feet and grow again".But a controversial plan for a cash-for-clunkers scheme that also covers petrol and diesel cars did not materialise after noisy environmental protests.

 

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