3/17/2020, 3:46 PM (Source: TeleTrader)
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Chart for: IBEX 35.

Spain to support economy with €200B amid COVID-19

Spain will introduce a fiscal package worth €200 billion to help its economy face the impact of the coronavirus outbreak, Prime Minister Pedro Sánchez announced on Tuesday. He said the measures would allow the government to support providing basic income to all citizens for 6.5 months. As much as €117 billion will come from the public sector, the prime minister stressed.

Sanchez noted that measures are worth an equivalent of 20% of the cvountry's gross domestic product (GDP). He also called on employers not to fire their workers

Spain's number of coronavirus cases has been rapidly rising over the past few days and it reached 11,409 on Tuesday afternoon, with a total of 509 deaths.

Breaking the News / VP