The German Bundestag adopted the draft budget for 2021 in the final reading reports TASS .
The budget for next year will amount to 498.6 billion euros. Of these, 179.8 billion euros – as debt borrowings. This year, the debts of the main European economy will be equal to 218 billion euros. This is the largest amount in the entire history of Germany. Since 2015, Germany has adopted a deficit-free budget and has not borrowed.
The country has donated 14 billion euros this month to help businesses like restaurants and bars. Extending aid until December will cost another € 20 billion.
German economy grew in the third quarter of 2020 by a record 8.5 percent over the previous three months. In annual terms, GDP contracted by four percent. According to analysts, the country’s economy will decline by 5.4 percent in 2020, and will grow by 4.7 percent in 2021.