Reviews Household: Bund makes 450 billion euros in crisis New debt
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Federal Finance Minister Scholz lays down a new budget with record debt. High pandemics and lower tax revenues indicate the budget, but also after the crisis threaten too high expenses.
The ongoing coronapandemic is massively reflected in the Federal budget and ensures a never-way recording of new debts. Around 450 billion euros should increase the so-called net borrowing in the crisis years 2020, 2021 and 2022. This is apparent from the draft for medium-term financial planning and the household 2022 and the supplementary budget 2021, which the Federal Cabinet should say goodbye to this Wednesday. Thus, the costs for the pandemic years exceed all other previous crises before, especially during the financial crisis in the years 2008 to 2010.
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only 2023 Federal Finance Minister Olaf Scholz (SPD) wants to comply with the fundamentally anchored debt brake again, but only with a household trick: then wants The Minister dissolve the existing budgetary reserve of 48.2 billion euros, spread over two years. In this way, the SPD Chancellor's candidate avoids it to formulate cuts in certain state spending now.
Currently, the ministry wants to speak only of an additional "need for action" in order to then keep the debt brake again. Meanwhile, the Lower Saxony Finance Minister Reinhold Hilbers (CDU) demands a "moratorium for spending-wide benefits" so that the federal government returns to the path of solid state finance. This time becomes more difficult than at the last financial crisis, so Hilbers continues, because the Federal Finance Minister can no longer count on falling interest rates. In fact, the Federal Ministry of Finance calculates with again higher interest loads in the state budget.
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This year, Scholz now wants to increase federal expenditure to 548 billion euros and increase net debt against the applicable budget by another 60.4 billion euros to 240 billion euros. Despite the record debt, it is called from the Ministry of Finance: "We can finish the financially." And on: "Germany is better through the crisis as many other countries." The gross domestic product in this country 2020 is only 4.9 percent in this country In the previous year, in France, in France, by 8.1, in Italy by 8.9, in the United Kingdom by 9.9 and in Spain even by 11.0 percent. "Our determined fiscal policy works," is the comment from Scholz.
, too, they have retained private households in the crisis in the crisis; Their income was 2020 even increased by 0.7 percent despite all adverseities. However, in the current year, the Federal Government expects a slightly lower economic recovery around 3.0 instead of 4.4 percent compared to 2020.
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that the federal government is to make further debt of more than 60 billion euros this year, is at the end Wanting pandemic. Thus, the expenditure for corporate aid increases by 25 billion euros, the tax revenue revenues are currently estimated against the original budget approach to Neu 8.6 billion euros. The Federal Ministry of Health is provided by Scholz additional 8.7 billion euros to combat the pandemic. For all the end of all, there is no profit from the Bundesbank this year, which the federal government can capture. And finally, the attractive interest rates at the capital markets are also reflected in the federal government: He now expects additional interest expenditure of 4.5 billion euros.
because of the federal elections in the fall, at least the household draft for the next year should have only symbolic value. Because usually the state termination is re-aligned after a choice of the new federal government. Whether it will give greater changes this time depends on how the elections assume and whether the upcoming government wants to operate a policy of loose money or more consolidation. And finally, the further course of the pandemic decides essentially on public finances, as is currently the supplementary budget with its additional new debt.
More about: The low interest rate is becoming increasingly important in corporate balance sheets. With every interest rate slide, the provisions for retirement increase.
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