Germany has approved a wide-ranging plan to revive its economy, including a tax aid package that lasts until 2028 and is worth more than 7 billion euros a year.
Chancellor Olaf Scholz explained at a coalition government forum at Meisburg Palace near Berlin that "the tax exemption package specifically addresses small and medium-sized enterprises and aims to increase consumption and stimulate investment."
Fears of deflation dominate Europe's largest economy and put pressure on Scholz's government. Germany is expected to be the only major industrialized country to experience a recession in 2023, according to the International Monetary Fund.
Source (Al-Arabiya.net Website, Edited)
