Le Maire (left) and Scholz
Berlin approves the German recovery plan
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April 27, 2021German Finance Minister Olaf Scholz presented his country's recovery plan together with French counterpart Bruno Le Maire at a joint remote press conference.
"Germany can expect to receive loans of a total value of 25.6 billion euros from the EU Recovery Fund. Our recovery plan foresees total expenses of around 28 billion euros," explained Scholz.
"90% of the expenditures foreseen in the German plan are dedicated to the fight against climate change and digital transformation. This means that the German government is going well beyond the ambitious objectives set by the EU".
"I think we are on the right track, not only Germany and France - continued Scholz - but also other nations, you have already heard that we are going to present our plans together with Italy and Spain and that we are working with the Commission and many other countries are doing the same. "
In the French relaunch plan, on the other hand, 30 billion of the planned 100 billion have already been invested, or one third of the Recovery Plan. Economy Minister Bruno Le Maire asked the EU Commission to act quickly: "The political responsibility of the Member States and the Commission is now to make the European Recovery Plan a concrete reality for all citizens as soon as possible. Member States must submit their recovery and resilience plans and ratify their decision positions on their resources as soon as possible. The Commission must analyze the recovery and resilience plans as soon as possible so that they can be approved by the board at the latest. July".