Germany plans to boost borrowing to 6% of GDP next year

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Germany is set to nearly double its 2021 debt plans to more than 180 billion euros ($215 billion) or nearly 6% of its gross domestic product (GDP) to fund aid measures launched to cushion the impact of coronavirus pandemic on the economy, two souces told Reuters on Thursday. 

Germany’s coronavirus cases have surpassed the 1 million mark since the start of the pandemic. The second wave has accelerated in the past few weeks, forcing the government to reimpose the economically-painful lockdown restrictions.

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