Germany remains Europe’s largest economy, despite the crisis
New borrowing will drop to 12 years ago, a country that not so long ago has managed to reduce its debt burden.
Germany’s government borrowed €4,14 billion through the issuance and sale of government bonds maturing in 10 years. This was reported by the Bloomberg news Agency.
The publication notes that the German authorities this is a record amount of the loan from 2014 on the background of the economic downturn caused by the impact of the pandemic coronavirus.
Earlier, the government of Angela Merkel announced plans to attract €62.5 billion in debt to take the country out of crisis.
Germany after the financial crisis of 2008-2009 has reduced the ratio of government debt to the national economy from 80% to 60%. New loans will increase to 77%. This will toss the country into 12 years ago, emphasizes Bloomberg.