BERLIN (Reuters) – Germany expects its debt-to-gross domestic product (GDP) ratio to rise to 75.25% this year, up from 60%, due to new borrowing and a range of measures aimed at cushioning the economic blow of the coronavirus crisis, the finance ministry said on Wednesday.
“German financial policy is currently being shaped by the fight against the COVID-19 pandemic and its economic consequences,” said the ministry in a statement.
During the financial crisis 2008/09, the ratio ballooned by roughly 18 percentage points from 64% in 2007 to 82% in 2010.
(Writing by Madeline Chambers; Editing by Michelle Martin)
