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6/3, 10:34 PM (Source: TeleTrader)
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Merkel: German relief package worth €130B

Germany's Chancellor Angela Merkel announced on Wednesday the coronavirus stimulus package which the government will provide to boost the country's economy will amount €130 billion.

Merkel said the relief will also include a lowered value-added tax (VAT) rate to help increase consumption as Germany is recovering from the coronavirus crisis.

Following long negotiations, Merkel's coalition has recently reached the deal on the German relief package.

Breaking the News / ND