German Government Predicts Borrowing in 2021

German Government Predicts Borrowing in 2021 The German government predicts borrowing in 2021. The coalition government approved the 2021 budget. The German Federal Assembly (Bundestag) adopted the 2021 budget of the coalition government, which was approved at the Council of Ministers, foreseeing 180 billion euros of borrowing. In 2021, the German government plans to spend around 500 billion euros according to the budget. This amount corresponds to 155 billion euros more spending compared to the budget plan of 2019. 361 deputies voted "yes" and 258 "no" in the voting in which 619 deputies in total participated in the Bundestag. The deputy who abstained was not. The borrowing brake in Germany's constitution was shelved this year, and the federal government was allowed up to 218 billion euros of net new borrowing this year to finance recovery measures. In the 2021 budget, more than a third of the expenditures (about 180 billion) is planned to be financed by new debt. The German government, which plans to give a grant of 39.5 billion euros due to the new type of coronavirus (Covid-19), which still has not lost its effect, has allocated about 2.7 billion euros in the budget to provide vaccines against the epidemic.