A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Sunday, March 3, 2024

German state plans €130bn economic boost

The German government says it will provide a stimulus package worth €130bn (£116bn; $146bn) to kick-start the economy, stricken by the coronavirus pandemic.

The package, to be spread into 2021, includes a €300 payment per child for families and a six-month cut in the VAT rate, from 19% to 16%.

The government is also earmarking €7bn for hydrogen technology to help cut carbon emissions.

Anyone buying an electric vehicle will be entitled to a €6,000 government subsidy towards it – double the current subsidy.

Germany is heading for its worst recession since World War Two because of the pandemic.

The EU already has plans for more than €1 trillion in aid for Europe’s ailing economies, but there are political tensions over the huge spending plans.

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.


UAE & Turkmenistan expand Economic ties

Turkmenistan's Berdimuhamedow urges UAE collaboration in gas field development....

Crown Prince Appreciates the World Governments Summit Team

The Crown Prince Appreciates the valuable efforts of the...

WTO Promotes Consensus

The final World Trade Organization General Council meeting before...

UK and Azerbaijan celebrate growing bilateral relations

UK PM Rishi Sunak congratulated President Ilham Aliyev on...

World Government Summit brings Global leaders to Dubai

The pre-summit day of the World Governments Summit (WGS)...

HH Shiekh Mohammed bin Rashid Meets Youth

Sheikh Mohammed bin Rashid Al Maktoum met with Arab...

Shiekh Hamdan Bin Zayed Honors Environmental Achievers

His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s...

Princess Kate shares a Message after meeting HM the King

Prince William and Kate Middleton share a Children's Mental...

HM King of Sweden to visit Europe

King Frederik X of Denmark and Queen Mary will...