Germany will borrow $246 billion this year to fund its coronavirus stimulus plan - Business Insider

much higher than had been expected prior to its announcement

In March, Germany's parliament approved an increase of 156 billion euros to the national debt in 2020 to fund the stimulus packages that it knew would be need. Some of the measures included a fall in the main-value-added tax from 19% to 16% for six months starting from July 1, providing families with a 300 euro payment per child and a refund on a car-buyer bonus scheme.

This came just days after the EU proposed a gigantic 750 billion euro blueprint to fund the recovery of the European economy from the virus.LoadingDo you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.

irakliberdzen Very good prime minister

'borrow' non of the EU members intend to pay anything back

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