BERLIN, Germany: Germany has taken its first significant fiscal step to jumpstart its slowing economy.

This week, the cabinet approved a corporate tax relief package worth 46 billion euros (US$52.43 billion), aimed at boosting investment and easing the tax burden for businesses between 2025 and 2029.

The package includes generous depreciation incentives, such as "super depreciations," which allow 30 percent annual write-offs for three years to encourage companies to invest and expand.

According to the government, the reforms are designed to stimulate economic activity and support German companies in a tougher global environment.