NUNZIUM

News That Matters

05.09.2022
THEME: ECONOMY

Germany announces 65 billions package to curb soaring energy costs

Germany has announced a 65 billions package of measure to curb the rising energy costs due to scarce supplies after Russia’s invasion of Ukraine. German Chancellor Olaf Scholz told journalists Germany would get through the winter, adding that Russia was "no longer a reliable energy partner".He said the government would make one-off payments to pensioners, people on benefits and students. There would also be caps on energy bills. Some 9,000 energy-intensive businesses would receive tax breaks to the tune of €1.7bn. Countries across Europe are considering similar measures. EU energy ministers are due to meet on 9 September to discuss how to ease the burden of energy prices across the bloc.