German finance minister Olaf Scholz said on Saturday that the government was readying a supplementary budget of 150 billion euros ($160 billion), as part of a broader funding package to tackle the economic impact of the coronavirus outbreak.
“A hundred and fifty billion is a large amount, but it gives us the flexibility that we now need,” Scholz said.
“In addition we are laying the ground for various other institutions of our nation to take the steps necessary to stabilize our companies ... it's important to send a clear and strong signal right at the beginning,” told a news briefing.
Read the latest updates in our dedicated coroanvirus section.
Also Read
-
US Senate’s coronavirus stimulus package to be worth more than $2 trln
The coronavirus stimulus package being negotiated by the US Senate would be worth more than $2 trillion, White House economic adviser Larry Kudlow ... World News -
Coronavirus: UK tells shoppers there’s ‘more than enough food’ so stop hoarding
Britain on Saturday urged people to act responsibly when they shop for food and stop hoarding so that there was enough for health workers fighting the ... World News -
Coronavirus, fires, crashes, locust swarms: Ten bad things that happened in 2020
January 1, 2020 marked the beginning of a brand-new decade that many looked at with optimism and as a chance at a new lease on life. But as summer ... Coronavirus
