June 8, 2020 / 8:22 AM / a month ago

German cabinet plans meeting on Friday to implement stimulus package - sources

German Chancellor Angela Merkel and German Finance Minister and Vice-Chancellor Olaf Scholz address a news conference after coalition meetings over stimulus measures to reboot post-coronavirus economy, at the Chancellery in Berlin, Germany June 3, 2020. John Macdougall/Pool via REUTERS

BERLIN (Reuters) - German Chancellor Angela Merkel’s cabinet plans a special meeting on Friday to start implementing large parts of its 130 billion-euro stimulus package, three sources told Reuters on Monday.

The cabinet is expected to pave the way for the agreed temporary cut in value-added tax, cash handouts for parents and bigger incentives to buy electric cars, the sources said.

Merkel’s ruling coalition sealed the stimulus package last week to speed up the recovery of Europe’s largest economy from the coronavirus pandemic.

Reporting by Michael Nienaber; editing by Thomas Seythal

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