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Stimulus package aims to pull Germany out of corona crisis with 'full strength'

FILE PHOTO: German Finance Minister and Vice-Chancellor Olaf Scholz addresses a news conference after coalition meetings over stimulus measures to reboot post-coronavirus economy, at the Chancellery in Berlin, Germany June 3, 2020. John Macdougall/Pool via REUTERS

BERLIN (Reuters) - A stimulus package that includes lower value-added tax, handouts for parents and support for companies is designed to lift Germany out of the coronavirus crisis promptly and effectively, Finance Minister Olaf Scholz said on Friday.

“We want to go out of the crisis with full strength,” Scholz said during a news conference to unveil some measures of the 130 billion euro ($147.11 billion) package that were approved by the cabinet and will be submitted to parliament for a vote on June 29.

Reporting by Paul Carrel; Writing by Joseph Nasr; Editing by Michelle Martin