Corona Outbreak: Compensation plan of different countries over the world

The recession of the world economy has begun. Not only the big economies but almost all countries of the world are also desperate to change the scenario quickly. To compensate for the huge loss every nation needs various steps, different types of packages. Never before, there been has been such a crisis without war. As the outbreak is increasing, the heads of government are also raising money in recovery packages.

The United States will provide the largest compensation in history
Corona Outbreak: Compensation plan of different countries over the world

Last week, President Donald Trump said he wants to restore everything to America very soon. The president knows that the death toll will rise. Still, he wants to bring the movement back. Last Tuesday, the White House and Senate negotiated the largest civic engagement in American history since midnight. With a citizen's assistance of $ 2000 billion, the person whose annual income is below $ 75,000 will be given a one-time check of $ 1,220.
Four months of unemployment allowance will be provided for all unemployed, small businessmen will be helped. The money will also be available for big industries.

The UK emphasizes trade and commerce
Corona Outbreak: Compensation plan of different countries over the world

Earlier, the newly appointed British finance minister, Rishi Sunak, announced an emergency recovery package of £350 billion to fight the coronavirus epidemic. This time, self-reliant workers can ask for 80 percent of their monthly average profit as a contribution to counter the financial impact of coronavirus. The amount will not be more than £ 2500 and the staff will receive one time. However, they will get it in early June.

The Government of India has announced  financial package of 1700 billion rupees
However, the Indian government has taken steps to recover the financial situation. On Thursday, Union Finance Minister Nirmala Sitharaman declared a remuneration package of Rs. 1700 billion. A large portion of this financial aid will be sent directly to the most deprived industrial business firms as a result of the lockdown in Corona.

The way China wants to deal with financial loss
The outbreak of coronavirus first began in China. As a result, the country's economic losses are huge. China plans to spend $394 bn in infrastructure to overcome this loss. Local government bonds will be sought for this purpose. In the meantime, restrictions on lending to banks have been relaxed.
People's Bank of China says it will reduce interest rates on loans. In addition, the central bank has reduced the reserve demand from banks, so that banks can lend more.

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The investment policy of G20 countries
The finance ministers and heads of the central bank of the world's 20 largest economies, G-20, have discussed among themselves to combat the global pandemic of Corona. They have vowed to invest more than $ 5 trillion in the global economy. On Thursday, the heads of state and government of the countries convened via video conference to determine what the G-20 could be done to fight against the Corona pandemic. At the conference, chaired by Saudi King, they assured to build effective health infrastructure and make all necessary investments to prevent the spread of the virus. Speaking about the conference, US President Donald Trump said that the video conference showed unprecedented enthusiasm for the Coronavirus crisis. Members of the coalition also agreed to help each other with information on the strategy to fight against the virus.

The measures, taken by Switzerland, New Zealand, Indonesia, United Arab Emirates, Thailand
The Swiss government has announced a $ 10.52  billion financial package to save the businesses affected by the coronavirus outbreak. New Zealand government announces a $ 12.1 billion recovery package. The money will be spent to pay the salaries along with the subsidy for the workers.
Initially, the Indonesian government announced an $ 8.1 billion recovery package to protect consumer spending and the tourism sector. Later, a $0.8 billion financial package was announced for economic recovery. The United Arab Emirates announces a recovery package of $ 27.2 billion to fight the coronavirus outbreak. Thai cabinet announces package of $17.6 billion. Korea's financial package size is $ 9.8 billion. The Malaysian government has allocated.

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