Germany allocates 65 billion euros for citizens, economy

Germany will spend 65 billion euros to protect customers and businesses from increasing inflation, the Chancellor, Olaf Scholz, said on Sunday, two days after Russia announced it would suspend several gas deliveries indefinitely.

The three parties in the ruling coalition discussed until late hours of the night before they announced the measures, which include a tax for energy companies, assistance for paying electricity bills and subsidies for public transportation.

The Russian invasion of Ukraine in February has sparked worldwide inflation. In Germany, the effect has been exacerbated by Russia's continued reduction in gas volumes, which has caused an increase in energy prices.

“Russia is no longer a reliable energy partner”, Scholz said at a news conference. Winter.

While energy supplies are in sufficient quantity, the government will have to help protect consumers and businesses from higher costs, he said.

“You will never walk only”, he said in English, before continuing in German: “No one will remain only”.

The energy crisis was exacerbated when Russian state-controlled energy giant Gazprom said on Friday he was keeping his main Northern Stream pipeline close, the largest single pipeline carrying Russian gas to Germany.

Among the main measures was a sudden tax on energy companies, for which Finance Minister Christian Linder said it would bring in <x0 billion-dollar <x0-cyph1>. Renamed “by chance, it was one of the most controversial measures.

Part of the revenue will be used to provide 1.7 billion euros in tax relief for 9,000 intensive energy companies, a government document indicated.