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Coronavirus: Germany Unveils £130 Billion Stimulus Package


Thu 04 Jun 2020 | 12:06 PM
NaDa Mustafa

Chancellor Angela Merkel’s ruling coalition has agreed on an economic stimulus package worth 130 billion euros to mitigate the economic repercussions of the Coronavirus pandemic.

"The size of the package will amount to 130 billion euros for the years 2020/2021, 120 billion of which will be spent by the federal government," Chancellor Angela Merkel said late Wednesday during a news conference after coalition meetings over stimulus measures to boost the virus-hit economy.

The comprehensive economic stimulus measures include billions in aid for struggling industries, additional funding to deal with unemployment and lost tax revenue, and a one-time 300-euro per child bonus.

It is worth mentioning that, the number of confirmed Coronavirus (COVID-19) cases in Germany has risen to 182764 on Thursday including 8581 deaths, according to the Robert Koch Institute (RKI) for infectious diseases.

RKI added that the number of cases rose by 394, compared with the previous day, and the death toll climbed by 30.

Germany has decided to reopen all schools and shops after weeks of shutdown imposed to curb the spread of the emerging coronavirus, according to a draft agreement seen by AFP.

“Gradually, schools should make possible education of all pupils while implementing appropriate hygiene measures and upholding distancing rules,” the document read.

Regarding shops, requirements “for hygiene, managing entry, and avoiding queues forming” would be imposed.