Merkel, coalition partners approve 130 bln euro coronavirus stimulus package

File photo of Chancellor Angela Merkel attending the weekly cabinet meeting in Berlin, Germany. (File photo: Reuters)

Chancellor Angela Merkel said her conservatives and their Social Democrat coalition partners agreed on Wednesday on a stimulus package worth 130 billion euros that is designed to speed up Germany’s economic recoveryfrom the coronavirus pandemic.

The coalition partners resolved differences on incentives to buy new cars and relief for highly indebted municipalities, paving the way for a fiscal program that is substantially bigger than similar packages by Germany’s euro zone partners.

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Last Update: Thursday, 04 June 2020 KSA 00:11 - GMT 21:11