Germany's Scholz: Mobilising huge sums of money to soften economic effects of pandemic

German Finance Minister Olaf Scholz said on Friday that they are mobilising huge sums of money to soften the economic effects of the pandemic and adde  |  27/11/2020 12:26

German Finance Minister Olaf Scholz said on Friday that they are mobilising huge sums of money to soften the economic effects of the pandemic and added that their goal is to grow out of the crisis in 2021, as reported by Reuters.

"New debt this year will be much lower than planned," Scholz noted. "New debt in 2020 and 2021 will be just over €300 billion."

Market reaction

Germany's DAX 30 Index inched slightly higher after these comments and was last seen gaining 0.28% on the day at 13,323.

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