Wuhan pneumonia (Chinese communist virus, new crown pneumonia, COVID-19) pandemic so far, hit countries around the world, the economy is also affected by the epidemic, a significant contraction and regression; Germany’s Federal Statistical Office (Statistisches Bundesamt) issued a press release today (7) said that the German public sector deficit in 2020 up to 189.2 billion euros, is since 2013 Since 2013, the first deficit situation, but also the highest budget deficit since the reunification of East and West Germany in 1990.
The main reason for the increase in public budget spending is that for the pandemic, the federal government provided about 17.8 billion euros to the federal states to assist small businesses and individuals affected by the epidemic, of which 14.1 billion euros is emergency aid and 3.7 billion euros is transitional aid.
Germany’s Federal Statistical Office said that total public budget spending for 2020 is €1 trillion 678.6 billion, an increase of 12.1% over 2019; at the same time, revenue decreased by 3.5% to only €1 trillion 489.4 billion, a result that clearly shows the impact of the coronavirus on Germany, the statistics office noted; in 2019, Germany still has a fiscal surplus of €45.2 billion.
The German epidemic has recently heated up again because of the variant virus and is at its most dangerous stage. The next few weeks will be a critical period to decide whether the third wave of the epidemic can be controlled, with 7,593 new confirmed cases and 109 deaths in Germany yesterday (6).
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