On Friday, the German parliament approved the government rescue package of 200 billion euros (195 billion dollars), which aims to protect companies and families from the impact of high energy prices.
The so-called “debt brakes” in the nation were also suspended earlier by a decision in the parliament.
This is relevant given that Germany, the EU’s largest economy, has struggled to adjust to the high costs of gas and electricity as a result of the EU’s economic sanctions against Russia for its involvement in the conflict in Ukraine. These sanctions have significantly reduced Russia’s gas supplies to the EU.
It is scheduled to help the support package of 200 billion euros in Germany in its plan to put an end to gas prices in the country, and it will help financing the value -added tax discounts on fuel sales.
German Finance Minister Christian Lindner noted on his Twitter account that the groundwork has been laid for a ceiling on gas and electricity prices as well as other forms of support, highlighting the need for Germany to use all of its resources in the fight against the energy crisis, including its economic might.
In order to handle the energy issue, the German parliament approves funds worth 200 billion euros.
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