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Germany announced that it will borrow 180 billion euros in 2021 due to the second wave of the Coronavirus (Covid-19) epidemic, which forced it to extend restrictions until January, according to what was stated in the annual budget approved by the Finance Committee in Parliament on Friday.
The budget was approved after 17 hours of discussions. It includes new debts totaling 179.8 billion euros in 2021 and 498.6 billion euros of public expenditures, according to the final document seen by Agence France-Presse.
On Wednesday, German Chancellor Angela Merkel announced the extension of the measures until January, as the health situation is still a cause for concern, and in view of this, Berlin extended for an additional month the urgent aid approved in November to support the companies most affected by these measures, which burdens the budget and preceded Berlin. That you borrowed a record € 217.8 billion in 2020 due to the health crisis.
Berlin expects a 5.5% recession in 2020, before economic activity recovers by 4.4% in 2021 and 2.5% in 2022.
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