Germans will receive 300 euros, or about $336, per child, pay less tax on daily items and be charged less for electricity, under a €130 billion, or about $146 billion, stimulus plan agreed to by Chancellor Angela Merkel’s government.

Ms. Merkel called the package, which was agreed to late Wednesday, a “bold response” to the pandemic downturn.

The plan also includes €5.3 billion for the social security system, €10 billion to help municipalities cover housing and other costs and €1.9 billion for cultural institutions and nonprofits.

The plan requires new borrowing. Ms. Merkel’s government abandoned its adherence to a balanced budget in March, when it passed a €750 billion rescue package that included taking on more than €150 billion of fresh debt.

“We need to get out of this crisis with an oomph,” the finance minister, Olaf Scholz, said.

Source : The New York times

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