The German cabinet will present to the parliament this week a draft on additional budget allocations in the amount nearing 156 billion euros ($166 billion) to assist the national economy amid the COVID-19 pandemic, Finance Minster Olaf Scholz said on Monday
BERLIN (Pakistan Point News / Sputnik - 23rd March, 2020) The German cabinet will present to the parliament this week a draft on additional budget allocations in the amount nearing 156 billion Euros ($166 billion) to assist the national economy amid the COVID-19 pandemic, Finance Minster Olaf Scholz said on Monday.
"We have concluded that we are capable of protecting the country, the health of our citizens, the economy and employment positions despite the very significant changes ... We will present this week in the Bundestag [parliament] a draft of an additional budget in the amount of almost 156 billion euros," Scholz said at a press conference, adding that the government will do everything possible to protect the health care system and the economy.
The additional allocation is meant for companies, self-employed persons, renters and families, the finance minister specified.
