Left Menu
Development News Edition

Germany's Scholz plans 2021 budget with new debt of over 80 bln euros - source

German Finance Minister Olaf Scholz is working on a budget for next year that would see Berlin take on net new debt of at least 80 billion euros to fund more measures in the fight against the coronavirus pandemic, a source said on Thursday.

Reuters | Berlin | Updated: 03-09-2020 21:04 IST | Created: 03-09-2020 20:46 IST
Germany's Scholz plans 2021 budget with new debt of over 80 bln euros - source
Representative image Image Credit: Flickr

German Finance Minister Olaf Scholz is working on a budget for next year that would see Berlin take on net new debt of at least 80 billion euros to fund more measures in the fight against the coronavirus pandemic, a source said on Thursday. The exact debt figure is still subject to negotiations within Chancellor Angela Merkel's conservative-led coalition government, but Scholz is trying to avoid net new debt exceeding 100 billion euros in 2021, the source told Reuters.

The step will require another suspension of Germany's constitutionally enshrined debt limits as was already the case this year, though Scholz is determined to stick to the fiscal rules from 2022 onwards, the source added. A finance ministry spokesman declined to comment.


TRENDING

OPINION / BLOG / INTERVIEW

New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...

Guinea’s elections hearken back to the autocracy and violence of its past

... ...

Videos

Latest News

Pelosi sees chance for COVID-19 relief bill despite Senate Republican opposition

U.S. House Speaker Nancy Pelosi on Wednesday said there was still a chance for a deal on fresh COVID-19 relief despite resistance from Senate Republicans, though she acknowledged it might not pass until after the election. Pelosi, the natio...

US STOCKS-S&P edges higher in choppy session as stimulus talks drag on

The SP 500 advanced slightly on Wednesday in volatile trading as investors tracked Washington negotiations for a fresh coronavirus stimulus package and appeared skeptical a deal would be reached before the Nov. 3 U.S. elections. U.S. House ...

Polish PM to recommend tightest virus rules for whole country

Polands prime minister on Wednesday said he will recommend imposing the highest level of highest level of coronavirus restrictions nationwide, after the country reported a new record of over 10,000 daily cases. Poland had been adopting a po...

Fake TRP scam: Names of two more channels crop up during probe

The names of two more TV channels have surfaced during the investigation of alleged fake Television Rating Points TRP scam, police said on Wednesday. While one is a news channel, the other one is an entertainment channel, the official said....

Give Feedback