Germany’s Scholz Calls for Spending to Spur Growth Out of Crisis
- Digital, climate investment needed to ‘win the future’
- Social Democrat defends debt-laden budget to lawmakers
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German Finance Minister Olaf Scholz laid out an agenda that sees Europe’s largest economy continuing to spend aggressively beyond the immediate fallout of the coronavirus.
Speaking to lawmakers in the lower house of parliament on Tuesday, Scholz defended plans for new borrowing of nearly 180 billion euros ($218 billion) next year -- almost double the amount initially budgeted. The Social Democrat argued for Germany to stick to expansionary spending and invest in digital technologies and the environment to spur growth.