March 17, 2020 / 3:05 PM / 5 months ago

Spain approves 200 billion euro aid package for coronavirus crisis: PM

MADRID (Reuters) - Spanish Prime Minister Pedro Sanchez announced on Tuesday a package of measures worth a total 200 billion euros ($219 billion), between loans, credit guarantees, benefits and direct aid, to mitigate the impact of the coronavirus epidemic on the economy.

The package represents about 20% of the country’s gross domestic product, Sanchez said in a televised address, adding that the government would mobilize 117 billion euros for the package, with the rest to come from private companies. The measures include 100 billion euros in state-backed credit guarantees and unlimited liquidity lines for companies.

Reporting by Inti Landauro, Jesus Aguado, Belen Carreno, editing by Andrei Khalip

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