(ANSA-AFP) - FRANKFURT AM MAIN, 27 NOV - Germany,
traditionally hostile to government borrowing, will take on 180
billion euros in new debt in 2021 as it grapples with the
economic fallout from the coronavirus crisis, according to a
draft budget agreed Friday. After 17 hours of discussion, the
parliamentary finance committee approved a total of 179.8
billion euros ($214.4 billion) of new debt for next year,
according to a final document seen by AFP. The agreement further
shatters Germany's constitutionally enshrined debt brake rule,
with public spending now nearly 500 billion euros, as the
government continues to support the economy through the health
crisis. Borrowing in Europe's largest economy will be nearly 84
billion euros more than the finance ministry forecast in
September, before the arrival of a damaging second wave of
Covid-19. (ANSA-AFP).
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