3 hours agoGermany approves 180 billion euros in new debts for 2021
Periskopi(6 years ago)
(6 years ago)German MPs today approved about 180 billion euros of new public debts for 2021 by voting the budget, which for the second year in a row deviate from the savings course due to COVID-19's pandemic. The ruling coalition budget, voted 361 votes for and 258 against Bundestag, envisions a total of 179.8 [...]
German MPs today approved about 180 billion euros of new public debts for 2021 by voting the budget, which for the second year in a row deviate from the savings course due to COVID-19's pandemic.
The ruling coalition budget, voted 361 votes for and 258 against Bundestag, envisions a total of 179.8 billion euros of new loans to Germany, the ATS reports.
In 2020, the health crisis weakened the constitutional rules of “debt refraining” that prohibit the federal state from borrowing more than 0.35% of GDP annually.
This budget (...) shows that our country is strong enough to overcome this” challenge, Finance Minister Olaf Scholz stressed today.
Facing the second wave of COVID-19, Germany adopted new restrictions in November, particularly closing bars, cultural sites and navigation, and preventing tourist stays in hotels.
These measures have slowed the economic recovery over the summer by needing extension and amplifying of aid for companies that burdened public finances.
Germany already plans to close non-food markets after Christmas, failing to curb pandemic.
The country today has registered a record number of about 30,000 new infections in 24 hours.
The country will have to fight for a long time against the economic, social and health consequences of this pandemic”, Olaf Scholz observed today.
Economy Minister Peter Altmayer cited an increase in the ceiling of federal aid for companies.
