US News Scholz considers debts to be acceptable - Corona aid should be extended

13:20  29 september  2020
13:20  29 september  2020 Source:   de.reuters.com

Corona case numbers: RKI reports fewer infections and warns of a further increase

 Corona case numbers: RKI reports fewer infections and warns of a further increase © iStockphoto The number of infections in Germany has been increasing for weeks. Now the official number of new corona infections is falling - but relaxation is not appropriate. The RKI reports the current number of cases from Monday. As expected, the Robert Koch Institute reported a comparatively low number of new corona infections on Monday. Accordingly, the health authorities had transmitted 922 cases within one day, as the RKI announced.

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German Finance Minister Olaf Scholz attends a session of the Bundestag, in Berlin © Reuters / HANNIBAL HANSCHKE German Finance Minister Olaf Scholz attends a session of the Bundestag, in Berlin

Berlin (Reuters) - Federal Finance Minister Olaf Scholz is holding on despite huge gaps Budget the debt burden for sustainable.

Germany will have lower debt after the coronavirus crisis than many other states before the outbreak of the pandemic, said the SPD candidate for chancellor in Berlin on Tuesday. The debt ratio in relation to economic strength rose to over 80 percent in the financial crisis in 2009, this time it would probably be 75 to 76 percent. "That's a good sign."

The Bundestag is discussing the budget draft of the grand coalition for 2021 this week. This provides for new debt of a good 96 billion euros - the second highest after the record of 2020. "That is very, very much money," said Scholz. The aid measures to support the economy are unlikely to end abruptly. As an example, he cited the recently extended option for short-time work. "Failure to act would be much more expensive." Thanks to solid budget management, the government has been able to counter the crisis with full force since 2014 - and must do so.

According to Scholz, the gross domestic product will collapse by 5.8 percent this year - about as much as in the financial crisis. In the financial planning from 2021 to 2024 investments amounting to 199.2 billion euros are planned - considerably more than in earlier times. This will also trigger private investments and ensure additional growth, said Scholz.

Trump declares negotiations on new corona aid package to have failed .
US President Donald Trump has declared negotiations with the opposition Democrats for a new corona aid package to have failed. Trump wrote on Tuesday in the short message service Twitter that he had instructed his negotiators to suspend talks until the presidential election on November 3rd. On the New York Stock Exchange, share prices immediately plummeted.

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