Vice Chancellor and Federal Finance Minister Olaf Scholz defends his budget with another high debt for the coming year.
Berlin (dpa) – Finance Minister Olaf Scholz (SPD) is betting that economic growth will bring Germany out of the Corona crisis and high debt.
This will only succeed if investments are made in the right future fields, for example in a carbon neutral economy and technological and digital progress, the vice-chancellor said in the budget debate in the Bundestag. “In any case, we can and must trust that our economy in Germany will grow.”
Scholz defended his budget with another high debt for the coming year. The state faces a major challenge and has a responsibility, he emphasized. “We must protect the health of the citizens.” With the massive aid programs, the federal government has also helped Germany get through the crisis better economically and socially than many predicted. “We have gone down this path and will continue to do so,” Scholz announced.
The budget for 2020 is formed by the Corona crisis. More than a third of this is financed with debt. It comes down to almost half a trillion euros being spent. In order to face the crisis, Scholz wants to take on some 180 billion euros in new debts and again suspend the debt brake in the Basic Law.