COVID-19: Germany approves 130b-euro coronavirus stimulus package

Berlin: 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 recovery from 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 programme that is substantially bigger than similar packages by Germany’s Eurozone partners.