Germany on Sunday announced a 鈧�65 billion ($64.69 billion) inflation relief package to help households cope with high inflation and soaring energy bills.
Speaking at a news conference in Berlin, Chancellor Olaf Scholz said coalition parties have reached an agreement on various measures to support all households, particularly the pensioners, students and low-income families.
鈥淕ermany stands together during these difficult times. Our country will get through these difficult times,鈥� he said, adding that his government is taking all necessary measures to ensure energy security and prevent a cost-of-living crisis this winter.
鈥淲e will leave nobody alone. That鈥檚 our aim with this comprehensive, third relief package,鈥� he said.
According to the new measures, all pensioners will receive a one-off payment of 鈧�300 ($298.6), and students will receive 鈧�200 ($199), and the government will increase heating support to social welfare-dependent households.
From 2023, child benefits will be raised to help parents cope with the inflation, and an average family with two children will receive an additional 鈧�432 ($429.9).
The package also includes new tax relief measures to offset the effects of inflation and rocketing energy costs.
The German government has long been under pressure to adopt a comprehensive relief package to help people cope with the rising prices, resulting from Russia鈥檚 war on Ukraine and sanctions imposed on Moscow.
Germany鈥檚 inflation rate hit 7.9% in August, and analysts expect it to reach a 70-year high of 10% in the next couple of months.
Average households will have to pay around 鈧�3,500 ($3,483) for gas this winter 鈥� nearly three times what they paid last year, according to the latest estimates.
By Ayhan Simsek
Anadolu Agency
energy@aa.com.tr