German Economy Minister Peter Altmaier said Tuesday that billions of euros to be injected in the economy were the first step toward mitigating the impact of the health crisis
BERLIN (Pakistan Point News / Sputnik - 24th March, 2020) German Economy Minister Peter Altmaier said Tuesday that billions of Euros to be injected in the economy were the first step toward mitigating the impact of the health crisis.
"We consider the package of measures as the first step. We know that its speedy implementation is of critical importance," he said at a press conference in Berlin.
Finance Minister Olaf Scholz said the government would send a 156 billion ($168 billion) aid package bill to parliament this week in a bid to prop up the economy.
Altmaier said the government was working closely with top economists and "social partners" to "take measures, step by step, to get out of this crisis."
He admitted that the coronavirus outbreak was weighing down on the economy, with millions of workers switching to telecommuting. He predicted that the impact of the epidemic would be worse than that of the 2008 financial crisis.
