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Germany to take on debt again in 2021 in virus fightback

Berlin shattering its no-deficit rule for a second year

18 September, 18:29
(ANSA-AFP) - BERLINO, 18 SET - Germany plans to take on 96.2 billion euros ($114 billion) in new debt in 2021, shattering its cherished no-deficit rule for a second year running to combat the pandemic's economic fallout, finance ministry sources said Friday. The figure will be formally announced on Wednesday when Finance Minister Olaf Scholz presents next year's federal budget. Berlin already intends to borrow around 218 billion euros this year to help pay for massive stimulus and rescue measures aimed at steering Europe's top economy through the Covid-19 crisis. (ANSA-AFP).

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