London, Wednesday, 31 August 2022
German Chancellor Olaf Scholz promised a new relief package on Wednesday to assist households in coping with rising energy costs.
After a two-day Cabinet retreat at Meseberg Palace, Scholz told reporters that the group will continue to discuss different ways to protect homes this winter.
"We have discussions here, and we'll keep working in the next few days to approve a very specific, tailored assistance package, which will help our people and businesses get through this trying time," he said.
Pressure to protect households from soaring energy costs, which have been made significantly worse by Russia's war on Ukraine and the sanctions placed on Moscow, is mounting on Scholz's liberal-left coalition government.
Analysts predict that Germany's inflation rate, which reached 7.9% in August, might rise to 10%, the highest level in 70 years, in the following months.
According to the most recent projections, the average household will have to pay over €3,500 ($3,500) for gas this winter, which is roughly three times what they paid last year.
(Research and edit by: The Decision Maker – International Relations editors)