German Cabinet Agrees Record Levels of New Debt for 2021: Ministry

Berlin, March 24 (AFP/APP): The German government agreed Wednesday to take on record borrowing this year, the finance ministry said, as it looks to weather the economic blow of the coronavirus pandemic.

In budget adjustments now signed off by Chancellor Angela Merkel’s cabinet, Europe’s largest economy will borrow a total 240.2 billion euros ($284 billion) in 2021, a third more than initially planned.

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