Germany's Scholz: Will give tax relief to companies, including deferrals

Eren Sengezer FXStreet

"We will use all means we have to ensure we tackle coronavirus," reiterated German Finance Minister Olaf Scholz on Friday, per Reuters. "We will give tax relief to companies, including deferrals."

Scholz noted that the tax aid will cost Germany "billions" and added that they will introduce credit programmes without limits.

Furthermore, Economy Minister Altmaier noted that they have around 0.5 trillion euros available.

Market reaction

The upbeat mood continues to dominate the markets on Friday. As of writing, Germany's DAX 30 was up nearly 6% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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