Germany to tap all fiscal options in case of economic crisis: Scholz

“The permitted debt would rise to 8.4 billion euros in 2021 and 9.7 billion euros in 2022, according to budget experts” writes Midwest Communications Inc for The government is expected to update its economic growth projections on Thursday.BERLIN (Reuters) – Germany intends to stick to its balanced budget rules for now and boost spending without incurring new debt, Finance Minister Olaf Scholz told Reuters on Tuesday, adding that the government would use all fiscal options in a severe economic crisis.The German government will lower its 2020 forecast for economic growth to 1.0% from an earlier estimate of 1.5%, a source familiar with the projection told Reuters on Tuesday.That would be roughly 5 billion euros ($5.5 billion) in 2020 after special factors such as growth and the outflow of earmarked money from special-purpose funds have been taken into account.

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