Germany plans to boost borrowing to 6% of GDP next year

Omkar Godbole FXStreet Contributor

Germany is set to nearly double its 2021 debt plans to more than 180 billion euros ($215 billion) or nearly 6% of its gross domestic product (GDP) to fund aid measures launched to cushion the impact of coronavirus pandemic on the economy, two souces told Reuters on Thursday.

Germany's coronavirus cases have surpassed the 1 million mark since the start of the pandemic. The second wave has accelerated in the past few weeks, forcing the government to reimpose the economically-painful lockdown restrictions.

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Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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