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Germany Will Take An Additional 96 Billion Euros In 2021 Due To The Pandemic

Germany Will Take An Additional 96 Billion Euros In 2021 Due To The Pandemic

Germany in 2021 will take an additional 96 billion euros in connection with the coronavirus pandemic, said the country's Finance Minister, Vice-Chancellor Olaf Scholz.

"Next year we will also have an extremely large budget and will take on additional loans in the amount of almost 100 billion euros — more precisely, a little more than 96 billion. That is a lot of money that we need to contribute to the stabilization of the market situation, this is important as well as continuing to support the measures previously taken," Scholz told reporters.

He specified that additional funds in the budget would be used to support programs launched in 2020 to support the economy and citizens of Germany, in particular, the program on the transition of the enterprise to a reduced working day to save jobs.

"We made two decisions in 2020 on additional budgets that allowed us to actively respond to the crisis... we succeeded, we can talk about it today, the economic recovery is currently continuing, we see signs of this," Scholz said.

"We hope that thanks to the measures taken this year and what we will do next year, we will be able to strengthen this trend to reach the pre-crisis level in early 2022," he added.

In late March, the government spokesman of Germany Steffen Seibert said that the debt of the budget of Germany would grow strongly due to the aid package for the economy. We are talking about an emergency situation.

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