Germany hikes pandemic-related debt plans to more than 450 bln euros - document

  • 3/22/2021
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BERLIN, March 22 (Reuters) - Germany is set to continue massive deficit-spending in the COVID-19 pandemic with a debt-financed supplementary budget of some 60 billion euros for this year and a 2022 draft budget with net new debt of 81.5 billion euros, a document showed on Monday. The finance ministry’s budget plans are pushing up pandemic-related new borrowing to a record 240 billion euros this year following 130 billions euros in 2020, the document showed. This means that Germany’s overall pandemic-related net new debt could exceed 450 billions euros from 2020 to 2022. (Reporting by Michael Nienaber Editing by Riham Alkousaa )

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