The German Parliament (Bondstag) opened the door for the funding of billions of dollars to reduce the high cost of energy and support businesses through this crisis.
The Economic Stability Fund can now borrow loans totaling 200 billion euros according to the authorisation issued by Parliament today, Friday.
For this, Parliament also agreed to a new comment of the principle of curbing debts stipulated in the constitution.
The monies of the fund will be accessible until 2024, per German government intentions.
The primary goal of this funding is to lower gas costs, which have lately risen. The German government should refund the cost of discounts in December to all German gas agents, according to a commission the government appointed.
As of next March, a maximum gas price can be applied for a basic share of 80% of normal consumption for ordinary customers.
As for the major clients in the industrial sector, gas prices will be implemented as of January.
It is not yet apparent, though, whether the German government will execute ideas similarly.
The 200 billion euro energy price reduction plan is approved by the German parliament.
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