Tax & Spend
Germany to Issue Record Federal Debt to Fund Energy Crisis Aid
- Government plans to issue around €539 billion of debt in 2023
- Additional federal note planned in 2022 to finance crisis fund
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Germany’s federal government plans to issue a record volume of debt next year to help fund generous aid for households and companies hit by the energy crisis.
Debt issuance will balloon to about €539 billion ($573 billion) in 2023 from €449 billion this year, according to the German finance agency’s plan published on Wednesday. The previous record was in 2021, when the government spent freely to help offset the fallout from the coronavirus pandemic.