May 16, 2020 / 9:57 AM / 20 days ago

Germany mulls 57 bln euros emergency aid for virus-hit municipalities - document

BERLIN, May 16 (Reuters) - German Finance Minister Olaf Scholz is working on an aid package worth 57 billion euros ($61.65 billion) to help municipalities cope with a plunge in tax revenues caused by the coronavirus crisis, a finance ministry document showed on Saturday.

The package should help towns stabilise their public finances and include extra relief for some heavily indebted municipalities, according to the finance ministry document seen by Reuters. ($1 = 0.9246 euros) (Reporting by Christian Kraemer and Michael Nienaber; Editing by Andrew Heavens)

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