Countries have borrowed almost 60 billion in pandemic so far

Wednesday, 12/29/2021 6:06 AM from


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Germany’s debt clock in Berlin. © ginton / iStock Editorial / Getty Images Plus / Getty Images

MUNICH (dpa-AFX) – The 16 federal states have so far accumulated almost 60 billion euros in new debts in the Corona crisis. Despite the high amount, this is significantly less than feared in the first phase of the pandemic. The credit authorizations approved by the state parliaments go far beyond this, but have so far hardly been exhausted by any state government. This was the result of a dpa survey among the finance ministries and authorities in the 16 countries. At least three federal states – Lower Saxony, Thuringia, and Baden-Württemberg – want to start paying off the corona debts as early as next year.

After the beginning of the crisis, the state parliaments, the citizenships of the two Hanseatic cities and the Berlin House of Representatives approved over 100 billion euros in new debts in 2020 alone. In the process, several countries made quasi-reserve decisions, because they extend the borrowing process over several years. Originally, no state government had planned new debts in 2020 because of the debt brake.

In fact, the federal states took out new loans totaling 57.6 billion euros in 2020 and 2021. Since the year is not over yet, not all countries wanted to submit water level reports, for example Lower Saxony and Thuringia. It is clear, however, that the total of over 100 billion approved in the 16 countries in 2020 will not be nearly exhausted by the end of this year./cho/DP/stk


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