With annual inflation hovering at 7.9% in August, Berlin was under pressure to provide more aid to consumers and businesses
The support package for citizens and companies against galloping inflation will rise to 13 billion euros this year and the German federal government will contribute 12 of them, the finance ministry announced today.
As year-on-year inflation hovered at 7.9% in AugustBerlin was under pressure to provide more help to consumers and businesses hit by soaring energy prices.
For 2023, this support will reach approximately 42.5 billion euros, of which 24.6 billion will come from federal funds, according to the analysis of the aid package announced on Sunday.
A is also provided one-time payment of 300 euros to pensioners. The total amount will reach 6 billion euros, i.e. half of the aid package for 2022. Energy-intensive companies will receive a total of 3 billion euros this year and next.
According to the document, most of the package, 10.1 billion euroswill be allocated to compensate for inflation.
The reduced fare for public transport – a continuation of the hugely popular €9 ticket offered this summer – will cost around €3 billion in 2023.
The ministry said the analysis did not include the economic impact of the postponement of the CO2 price increase and the agreed ceiling on the price of electricity.
RES-EMP
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