Finance minister says Germany preparing 150 billion euro supplementary budget


  • World
  • Saturday, 21 Mar 2020

FILE PHOTO: German Minister of Finance Olaf Scholz speaks during a plenum session at the lower house of parliament, Bundestag, in Berlin, Germany March 13, 2020. REUTERS/Annegret Hilse

FRANKFURT (Reuters) - German finance minister Olaf Scholz said on Saturday that the government was readying a supplementary budget of 150 billion euros (137 billion pounds), 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 stabilise our companies ... it's important to send a clear and strong signal right at the beginning," told a news briefing.

(Reporting by Ludwig Burger; Editing by Alexander Smith)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In World

UK takes new measures to slow Omicron coronavirus variant
Colombia extends health emergency citing new coronavirus variant
In Honduras, parties flag fears of fraud ahead of pivotal vote
Erdogan orders probe into Turkish lira's slump - Anadolu
Russian court remands five people in custody after deadly mining accident
Spanish police march in Madrid to protest against 'Gag Law' reform
Sudanese prime minister dismisses police chief and his deputy
Russia spy chief says Ukraine invasion plan 'malicious' U.S. propaganda
New UAE criminal code among 40 legal changes in reform push
Frenchman known for mocking government denied entry in Thailand

Others Also Read


Vouchers