€ 18 billion construction boost in German stimulus package
By Chris Sleight13 January 2009
The German government will invest up to an extra € 18 billion in construction over the next two years, as part of its new € 50 billion stimulus package. The rest of the money will be spent on tax cuts, aid for the auto industry and credit guarantees for the private sector.
According to news reports the € 18 billion of investment will be focused on infrastructure projects, including broadband communications networks, and there will also be heavy spending in the education and health sectors.
With a construction market worth some € 264 billion last year according to Euroconstruct, the new round of spending could increase output in the industry by more than +3% for the next two years.