Germany’s finance minister says the country's debt load won’t reach the level it did in the financial crisis a decade ago as a result of the coronavirus pandemic
The crisis has derailed the government’s dedication to keeping its budget balanced, long a point of pride. After six years in the black, it is borrowing a net 217.8 billion euros this year to finance rescue and stimulus packages and cover an expected shortfall in tax revenue. Next year, it plans to borrow a further 96.2 billion euros.
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