Latest News

Germany to spend $220 billion for industrial transformation by 2026

0

© Reuters. FILE PHOTO: German Finance Minister Christian Lindner answers questions during a plenary session of the lower house of parliament, the Bundestag in Berlin,Germany February 16, 2022. REUTERS/Michele Tantussi

BERLIN (Reuters) -Germany has earmarked 200 billion euros ($220 billion) to fund industrial transformation between now and 2026, including climate protection, hydrogen technology and expansion of the electric vehicle charging network, its finance minister said.

“200 billion euros in funding for the transformation of the economy, society and the state,” Christian Lindner told public broadcaster ARD on Sunday, adding that this also included the removal of renewable energy levies.

Lindner’s comments come as Germany is intensifying efforts to cut reliance on Russian gas by boosting infrastructure to import liquefied natural gas (LNG) and possibly relying more on coal-fired power plants.

At the same time, Germany is planning to boost investment in renewables for energy production.

In comments to Reuters, economy minister Robert Habeck said that agreeing on funds to boost the transition of Europe’s largest economy was a great success.

“More urgently than ever, we need to invest in our energy sovereignty. And I am glad that we as members of the coalition are pulling in the same direction. Now we must make every effort to become more independent and climate-neutral.”

($1 = 0.9152 euros)

Germany to spend $220 billion for industrial transformation by 2026

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Weather Adjusted Employment Gains in February

Previous article

TikTok suspends livestreaming, new uploads in Russia

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News