Germany's Scholz plans 2021 budget with new debt of over 80 bln euros – source
BERLIN, Sept 3- 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…
BERLIN, Sept 3 (Reuters) – 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 negotiationswithin Chancellor Angela Merkel’s conservative-led coalitiongovernment, but Scholz is trying to avoid net new debt exceeding100 billion euros in 2021, the source told Reuters.
The step will require another suspension of Germany’sconstitutionally enshrined debt limits as was already the casethis year, though Scholz is determined to stick to the fiscalrules from 2022 onwards, the source added.
A finance ministry spokesman declined to comment.(Reporting by Michael NienaberEditing by Paul Carrel)
ANA NEWS WIRE Disclaimer:
The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality.
ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.
The ANA platform also contains news and information from third party sources. ANA has sought to procure reliable content from trusted news sources but cannot be held responsible for the accuracy and opinions provided by such sources on the ANA platform or linked sites.
The content provided for on the ANA News Wire platform, both through the ANA news operation and via its third party sources, are for the sole use of authorised subscribers and partners. Unauthorised access to and usage of ANA content will be subject to legal steps. ANA reserves its rights in this regard.
ANA makes every effort to ensure that the website is up and running smoothly at all times, however ANA does not take responsibility for, and will not be held liable for times when the website is temporarily unavailable due to technical issues that are beyond our control.