Germany unveils 130B euro aid

BERLIN: Germany has agreed on an economic stimulus package worth 130 billion euros ($146 billion) to mitigate the economic effects of the Covid-19 pandemic, Chancellor Angela Merkel said late Wednesday.

“The size of the package will amount to 130 billion euros for the years 2020/2021, 120 billion of which will be spent by the federal government,” Merkel said during a news conference after coalition meetings over stimulus measures to boost the severely-hit economy.