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The German deficit has risen to the largest since unification due to the corona crisis | NOW

The German budget deficit rose to nearly 190 billion euros last year due to the corona crisis. For the first time since 2013, the German government spent more money than it received. It is also the biggest deficit since unification, according to data published Wednesday.

The corona pandemic has also left deep marks on the German economy, although the damage is relatively minor. This is partly due to the continued strong exports to China.

The government spent 1.7 trillion euros last year, 12.1 percent more than a year earlier. Just like in the Netherlands, the government has provided financial support to businesses in Germany. On the revenue side, 1.5 trillion euros came in, a 3.5 percent decrease in tax revenue.

The money tap will remain open in Germany as long as the pandemic continues. German Finance Minister Olaf Scholz pledged last month to use all financial means to help the country out of the corona-caused economic malaise.

Germany is now in the middle of a third wave; cafes and cinemas, among other things, will remain closed for the time being.

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