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Covid-19: €750b German stimulus to fight coronavirus

Reuters/Berlin
Filed on March 23, 2020 | Last updated on March 23, 2020 at 11.16 pm
Covid-19, 750b, German, stimulus, fight, coronavirus

(AFP)

The federal government's supplementary budget of 156 billion underlines Berlin's determination to reduce the impact of coronavirus.

Germany on Monday agreed a package worth up to 750 billion ($808 billion) to mitigate the damage of the coronavirus outbreak on Europe's largest economy, with Berlin aiming to take on new debt for the first time since 2013.

The federal government's supplementary budget of 156 billion, which will be financed with new borrowing, underlines Berlin's determination to use "all we have" to reduce the impact of coronavirus, Finance Minister Olaf Scholz said.

"That's a very big package with a lot of measures," Scholz said during a joint news conference with economy minister.


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