US and Germany economic stimulus packages

In order to minimize the economic damage effect of the Covid-19 pandemic, the packages are passed through the assemblies.(Tera Menkul)

In order to minimize the economic damage effect of the Covid-19 pandemic, the packages are passed through the assemblies. An agreement was reached on the Trump administration's 2 trillion USD package after the discussions in the Senate in a protracted period. Following Trump's sign, the package, which will save damaged sectors and major American industrial companies, will become law.

Package includes; credit programs for large and small businesses, unemployment benefits, spending cheques for more than 150 million Americans, and measures ranging from taxes to direct cash benefits. The scope of unemployment insurance is expanding, adding 600 USD for 4 months to the weekly unemployment pay, which is between 200 and 550 USD. Sectors and firms are given a 500 billion USD aid, which includes credit and credit guarantees. 25 billion USD will be allocated for airlines, and for 454 billion USD funding, a wide range of liberty was granted to provide loans to businesses, states and municipalities. The stimulus package will also provide 117 billion USD for hospitals.

Bundestag has also approved a 750 billion EUR (814 billion USD) aid package aimed at strengthening the economy against coronavirus-related shocks. The government of Chancellor Angela Merkel has been planning new borrowing for the first time since 2013 to finance emergency measures. The package will be enacted after being voted in Bundestrat, the upper house of Parliament, on Friday.

Trump wants to open the economy on April 12, and besides New York City, quarantine measures are generally not very tight in American states. Jobless claims will be  announced today and the figure is expected to exceed 1 million.

Kaynak: Tera Menkul
Hibya News Agency

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