Recently , the global pandemic COVID-19 continues to spread , impacting many areas of the world economy by restricting travel and closing borders. The most heavily affected are aviation, tourism, manufacturing and services. Many measures to minimize damage to economic growth are being urgently implemented by countries.

US launch package bailout 2.000 billion dollars history

According to The Hill , after overnight talks between the Senate and the White House leaders , the bill on the US $ 2,000 billion economic bailout package was passed with an absolute vote of 90 votes in favor, 0 votes against March 26 (Vietnam time). The bill is expected to be passed to the House of Representatives on March 27, then submitted to President Trump for approval if passed. Earlier, House Speaker Nancy Pelosi gave the green light to support the bill.

It is known that this is the largest bailout in modern US history, surpassing the US $ 800 billion stimulus package adopted under President Barack Obama to deal with the 2008 financial crisis, or the previous one. US $ 700 billion in relief was signed by President GW Bush in 2003.

For U.S. workers, who earn less than $ 75,000 per year, or who do not have income, or income from non-taxable welfare programs will receive a one-time check of $ 1,200 USD, a couple are supported 2,400 USD, each child under 17 receives 500 USD. Workers also benefit from a $ 250 billion unemployment benefit package with a maximum period of four months.

Notably, the largest allocation of $ 500 billion will be for large-scale companies and corporations, in the form of loans, guarantees, and investments under the supervision of the Ministry of Finance for a term. no more than five years and no write off. Small and medium enterprises will enjoy the support package of USD 350 billion.

$ 140 billion of the bailout will also be used to strengthen the US health system. 100 billion USD will be directly pumped to hospitals to buy medical equipment. The remainder will be used to purchase protective gear for staff and free COVID-19 testing support.

Once issued, the bailout will also set aside $ 450 million for the Emergency Food as‌sistance Program, about $ 350 million for additional food and $ 100 million for distribution.

Analysts said the support package was approved in a timely manner but it was not enough to prevent the short-term economic impact and the rising unemployment rate that the COVID-19 epidemic caused to the US economy. President of the Federal Reserve Bank branch Louis, James Bullard, sees the bailout as appropriate for the current situation but only a temporary bailout, which cannot be called a stimulus package without knowing how long the epidemic will last.

From left: Treasury Secretary Steven Mnuchin, White House legislative director Eric Ueland and White House Chief of Staff Mark Meadows are present at the US Congress headquarters for the final discussion of the $ 2,000 billion bailout package March 24. Photo: CNBC

Germany launched 1,200 billion USD to save the economy

Also on March 26 (Vietnam time), the German Parliament voted the largest economic bailout package since World War II, worth nearly 1,100 billion euros (about 1,200 billion USD), according to the radio. DW .

Of that amount, Berlin set up an economic stabilization fund that provided nearly $ 440 billion in high liquidity to support the country’s large corporate debt repayment. The federal government is also offering $ 55 billion in as‌sistance to small and medium businesses. Businesses who cannot afford to pay their employees will be supported by the government with 60% of the salary for each employee without children and 67% for employees who have children.

The package also includes $ 3.8 billion for additional medical equipment, while supporting the development of vaccines and COVID-19 treatments. About $ 60 billion can still be mobilized in an emergency to add resources to combat the disease.

In addition, Berlin also spent nearly $ 11 billion to subsidize about 2.15 million people laid off by the business, accounting for the majority of workers in industries such as mechanical engineering, electronics and hotel services, restaurant. Within the next six months, the process of reviewing applications for unemployment benefits will temporarily skip the property inspection and monthly housing payment checks. The consideration of grant of child support payments will also be simplified. If parents are forced to stay home to look after their children, they will also receive government as‌sistance.

Those who cannot afford the rent will also receive government as‌sistance between 1-4 and 30-9. The mandatory condition is that the tenant is prohibited from canceling the lease and fulfilling the obligation to pay the full rent.