June 17, 2020 / 10:28 AM / 24 days ago

German cabinet passes extra budget to finance coronavirus response with record new debt

BERLIN, June 17 (Reuters) - Chancellor Angela Merkel’s cabinet on Wednesday passed another supplementary budget to finance its bumper stimulus package, pushing up Berlin’s overall new borrowing to a record 218.5 billion euros ($245.35 billion) this year, the finance ministry said.

“We can afford this fiscal act of strength because we reduced debt in good times and now have solid public finances,” Finance Minister Olaf Scholz said in a statement. ($1 = 0.8906 euros) (Reporting by Michael Nienaber Editing by Michelle Martin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below