Economics
Germany Weighs 50 Billion-Euro Spending Boost on Virus Costs
- Merkel’s cabinet discussed initial estimate for extra costs
- Final amount hinges on testing and lockdown strategy
Germany is discussing financing for virus tests and other measures.
Photographer: Liesa Johannssen-Koppitz/BloombergThis article is for subscribers only.
Chancellor Angela Merkel’s government is weighing as much as 50 billion euros ($61 billion) in additional debt spending to fight the fallout from the coronavirus crisis.
Germany’s coronavirus cabinet on Monday discussed the financing for Covid-19 tests and other measures to support Europe’s largest economy. The funding -- equivalent to about 1.5% of German gross domestic product -- reflects an initial estimate, and it’s still unclear if the money will be needed in the end, according to people familiar with the discussions.