On Friday, Germany’s parliament approved a 200 billion euro government rescue package aimed at protecting businesses and households from the impact of high energy prices.
Parliament also approved for this purpose a new suspension of the debt limitation principle enshrined in the Constitution.
According to the plans of the German government, the fund’s money will be available until 2024.
In accordance with the approval announced by Parliament, the Economic Stability Fund can now receive loans worth 200 billion euros.
These funds are primarily intended to reduce gas prices, which have recently risen sharply.
The government commission proposed to the German government to reimburse the cost of discounts in December for all German gas consumers.
From March next year, the maximum gas price can be applied to a base share of 80% of the normal consumption of ordinary consumers, and for large consumers in the industrial sector, from January next year, a gas price cap will apply.
However, it remains unclear whether the German government will implement the proposals in the same way.
Source: db a