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Germany's Economics Minister Robert Habeck warns high energy prices to stay

The aid package for companies currently includes a loan programme via the state development bank KfW as well as energy cost subsidies

Topics
Germany | Energy

IANS  |  Berlin 

coal supply, power, energy, mining
Photographer: Brendon Thorne/Bloomberg

Consumers and companies in should prepare for a long period of high prices, said Federal Minister of Economics Robert Habeck on Monday.

The government's economic aid package will help, but could not fully mitigate the impact of price increases for consumers. "That is the bitter and hard truth," Habeck said after a meeting with associations of small and medium-sized businesses.

The aid package for companies currently includes a loan programme via the state development bank KfW as well as cost subsidies. Under the scheme, some 4,000 companies are eligible for direct energy subsidies, Xinhua news agency reported.

Overall, the government so far adopted measures worth 30 billion euros ($31.6 billion), including an increase in the basic tax-free allowance and higher mileage allowances for long-distance commuters.

--IANS

int/shs

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, May 03 2022. 08:25 IST
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