Scholz confirms €200 billion fund to battle gas prices

Thursday, 29. September 2022 14:15

German Chancellor Olaf Scholz confirmed on Thursday, during a press briefing, that country's government is planning to go ahead with a €200 billion fund that aims to help in the battle against soaring gas prices.

"The German government will do everything in its power... to bring the prices down. We are now putting up a large defensive umbrella," Scholz highlighted.

Scholz further shared that the "energy price cap will come promptly," as the expert committee is expected to "consult urgently and submit proposals." During the same briefing, German Economy Minister Robert Habeck expressed concerns that the current energy crisis, the country is facing, would "lead to a social and economic crisis."

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Baha Breaking News (BBN) / AY