The step will push Germany’s debt-to-GDP ratio to around 77% in 2020 from just below 60% in 2019 and the finance ministry expects the public sector’s overall budget deficit to reach 7.25% of economic output this year, the two officials said on condition of anonymity.
The comments come after a Reuters report on Wednesday in which a senior official said that Germany’s overall new borrowing would probably balloon beyond 200 billion euros this year.
