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Germany Sees at Least 80 Billion Euros in New Debt Next Year

  • Finance minister floated figure at coalition meeting last week
  • Government due to publish draft 2021 budget plan this month
Olaf Scholz
Olaf ScholzPhotographer: Kay Nietfeld/Getty Images
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Germany’s federal government is looking at a budget deficit of more than 80 billion euros ($94 billion) next year as it seeks to sustain the recovery from the coronavirus pandemic, according to two officials familiar with its discussions.

Finance Minister Olaf Scholz, who has yet to comment publicly on any budget figures for next year, floated the initial estimate at a meeting of the governing coalition last week, one of the officials said. A second official indicated that the number may eventually be slightly higher. A finance ministry press officer declined to comment.