Germany Raises Its Pandemic-Related Borrowing Plans to More Than 450 Billion Euros

Monday, a document showed that Germany is expected to continue a huge deficit in spending in light of the Covid-19 pandemic, with a debt-funded supplementary budget of about 60 billion euros for the current year and a draft budget for 2022 with new net debt of 81.5 billion euros.

The Finance Ministry’s budget plans push new pandemic-related borrowing to a record high of 240 billion euros this year, following 130 billion euros in 2020.

This means that the total net debt linked to the pandemic in Germany could exceed 450 billion euros in the period from 2020 to 2022.