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Germany to Borrow at Least $220 Billion to Fund Historic Reset

  • Cabinet approves 100 billion-euro fund for military spending
  • More debt likely needed this year due to invasion of Ukraine
Updated on

Germany plans additional borrowing of at least 200 billion euros ($220 billion) this year to finance a fund to modernize the military alongside already-planned debt for climate protection and other initiatives.

The latest borrowing binge marks the third consecutive year that Germany has breached constitutional limits and highlights how the new government is prepared to unleash massive spending to deal with seismic events like the pandemic and the war in Ukraine.