German Government Warns Consumers and Businesses to Prepare for Continued High Energy Prices

The German Economics Minister said that consumers and businesses in Germany should be prepared for a sustained rise in energy prices.

In a meeting with the Association of Small and Medium Enterprises, he said that while the government’s economic stimulus measures can help, they are unable to mitigate the impact of rising energy prices, and, “That’s the harsh and hard truth.”

The aid measures for German companies include a loan program via the Kreditanstalt für Wiederaufbau (KfW) and energy subsidies. Under the measure, around 4,000 companies are eligible for direct energy subsidies.

So far, the German government has implemented a 30 billion euro ($31.6 billion) measure including basic tax-free allowance and increased mileage allowances for long-haul travelers.

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