EU Stimulus: 60 Lakh crore package approved !!!

BRUSSELS (Reuters) - The European Union (EU) has announced a major stimulus package to ease Europe's worst-hit corona virus. Charles Michel, President of the European Council, has announced that $ 85,700 billion (approximately 60 trillion Rupees) will be allocated under the Economic Recovery Fund in the wake of the corona virus. However, the EU countries have agreed to spend this amount over the next seven years (2021-2027). Michael said the agreement was reached by EU countries at a summit in Brussels over the past four days.

French President Emmanuel Macron has hailed the EU's historic agreement on an economic stimulus fund. German Chancellor Angela Merkel said the conference had yielded good results.