According to an analysis by think tank Bruegel, Germany is the country currently offering the most wide-ranging coronavirus financial aid and stimulus plan. It amounts to more than two trillion euros ($2.2 trillion) - 60 percent of the country’s economic output in 2019.
This means that the German federal and state governments are mobilizing significantly more funds than for example France, Italy, the UK, the U.S. and Spain.
The U.S. House just passed a second stimulus bill of $484 billion last week. Even adding that amount in, the stimulus plan is still only at 14 percent of last year’s GDP. Yet, the share of direct aid paid out in the U.S. (9.1 percent of GDP) is higher than in all other countries in the survey. The Trump administration’s response included mailing aid checks to all Americans in a certain income bracket. The measure cost US$600 billion, the biggest single item in the entire stimulus package, which consisted of almost $2 trillion in direct stimulus and $560 billion each in deferrals (of payroll tax and student loans) and in liquidity/guarantee measures.