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Company News

Germany eyes "much more debt" in 2021 to finance new coronavirus aid - source

BERLIN, Oct 28 (Reuters) - German Finance Minister Olaf Scholz is planning to take on much more debt than initially planned next year to finance new coronavirus aid measures, a government source said on Wednesday.

The initially eyed sum of 96 billion euros for 2021 is not enough to help companies survive the second wave of the pandemic so the government has to take on new debt well above 100 billion euros, said the official, who spoke on condition of anonymity.

Three people familiar with the matter told Reuters earlier on Wednesday that Scholz is mulling a coronavirus aid package worth up to 10 billion euros to compensate firms forced to close due to a new round of lockdown measures. (Reporting by Michael Nienaber; editing by Maria Sheahan and Thomas Seythal)

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