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The Spanish economy was severely affected by the epidemic, The US Treasury Secretary said he was fighting to pass a new round of economic stimulus package

The Spanish economy was severely affected by the epidemic
The Central Bank of Spain said that the worst situation in the local economy affected by the epidemic could shrink by 15.1% in 2020. The debt-to-GDP ratio will even hit 126.7%. Faced with such a grim situation, Spain warned that the EU must pass an aid fund of 750 billion euros as soon as possible. It seems that the pressure is increasing now, forcing the four small EU countries such as Denmark, the Netherlands, Sweden and Austria to adopt the above plan at the July 17 and 18 conferences.

The US Treasury Secretary said he was fighting to pass a new round of economic stimulus package
U.S. Treasury Secretary Mnuchin said at the House Financial Services Committee hearing that it is seeking Congress to pass a new round of economic stimulus plan by the end of July, which includes the introduction of a salary protection plan and relief for specific industries. In addition, the Treasury and the Federal Reserve are studying to extend the term of the emergency loan tool launched earlier, and believe that as the economy recovers and the unemployment situation gradually improves, the US economic environment in the second half of the year will show "significant improvement." Mnuchin’s remarks increased the market’s expectation that the government would launch a new round of economic stimulus measures.

 




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