Germany Approves $63 Billion Stimulus Plan to Boost Economy

Germany’s upper house of parliament have approved a $63 billion stimulus plan, more than twice the amount initially proposed, that will provide investments in infrastructure as well as tax breaks and funds for families with children.

Following the approval Chancellor Angela Merkel expressed confidence in her country’s ability to get through the current economic slowdown. Merkel stated, “We are operating on the principle that Germany is strong and therefore can come to terms with this difficult economic situation.”

Merkel also stated, “With the biggest package in the history of the federal republic of Germany, we are also living up to our international responsibilities.”

Germany has the largest economy in Europe.

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