Germany Plans €180 Billion in Fresh Public Debt

Germany’s coalition government has decided to take on high public debt in its 2021 budget to battle against the economic impacts of the COVID-19 pandemic.

Germany’s coalition government has decided to take on high public debt in its 2021 budget to battle against the economic impacts of the COVID-19 pandemic.

The parliamentary Budget Committee has reported that the planned budget that was foreseen is €180 billion in fresh debt.

The budget computed the expenditure of €498.6 billion, around the same level seen this year.

The amount of debt goes beyond the original drafted budget in September, which is €96,2 billion in fresh debt.  

It is also €164.227 billion more than what is permitted in the debt brake of Germany,  which parliament will have to excuse for a second time.

The debt is second only to the record of €217.8 billion, which was set this year in July.


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