Germany’s package to help citizens and businesses deal with rising inflation will be €13 billion this year, with the federal government contributing €12 billion, the finance ministry said on Wednesday. thursday (7).
With inflation at 7.9% in August, Germany is under pressure to provide more help to consumers and businesses hit by a spike in energy prices.
Aid for 2023 will be around 42.5 billion euros, of which 24.6 billion euros will come from the federal coffers, according to a ministerial breakdown of the package, announced on Sunday.
A one-time payment of €300 to retirees would consume almost half of the promised relief for 2022, worth €6 billion, while energy-intensive companies would receive a total of €3 billion this year and next, the document showed.
Around €7.5 billion in 2022 and 2023 will go towards reducing taxes on gas revenue and €10.1 billion, most of the allocated funds, will be dedicated to offsetting inflation.
A discounted public transport ticket, a successor to the popular €9 ticket offered in recent months, will cost €3 billion next year.
The ministry said the breakdown did not yet include the financial effects of postponing a CO2 price increase, an agreed electricity price cap or the dampening of rising grid charges, which would amount to more than 10 billion euros.
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