Germany is considering setting up independent public agencies that could take on...
BERLIN - Germany is considering setting up independent public agencies that could take on new debt to invest in the country’s flagging economy, without falling foul of strict national spending rules, three people familiar with talks about the plan told Reuters.
Europe’s largest economy is teetering on the brink of recession and pent-up demand for public investment from towns and cities across the country is estimated at 138 billion euros by state-owned development bank KfW. “If managed wisely, an independent public investment agency could even make money by taking on new debt,” the official said.
The Finance Ministry spokeswoman pointed to an earlier statement by a deputy finance minister for parliamentary affairs saying Berlin did not think there was a lack of public funds.Under the European Union’s fiscal rules, countries can run a deficit of up to 1% of economic output as long as their debt-to-GDP ratio is significantly below 60% - something that Germany’s Finance Ministry expects to happen this year.
“We should explore all possibilities to finance necessary investments under the debt brake, including setting up independent bodies not accounted for under the debt brake,” he said. “We should be able to resist criticism about using accounting tricks - the task is worth it.”
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Exclusive: Germany mulls shadow budget to circumvent strict debt rules: sourcesGermany is considering the creation of a 'shadow budget' that would en...
Consulte Mais informação »
Gundogan out of Germany against Northern IrelandGermany midfielder Ilkay Gundogan has been ruled out of Monday's Euro 2020 ...
Consulte Mais informação »
Germany Offers a Model to Corporate America on Labor RelationsAs corporate America debates whether companies should consider other constituencies than just their shareholders, Germany offers an example of what a new approach might look like.
Consulte Mais informação »
Exclusive: Saudi plans gradual listing at home for Aramco: sourcesSaudi Arabia plans to list 1% of state oil giant Saudi Aramco on the Riyadh stoc...
Consulte Mais informação »
'I’m disgusted': Democrats pounce on Trump administration over 'shady for-profit colleges' policyDemocrats are criticizing new rules by the Department of Education (DOE) that tighten how students who had attended defunct could claim debt relief.
Consulte Mais informação »
TV Networks Plan to Include Out-of-Home Audiences in National Ratings in 2020 (EXCLUSIVE)The Super Bowl is TV’s most-watched annual event, but would any network executive bet on counting more people to watch in an age when viewers are moving to streaming video and mobile devices? CBS w…
Consulte Mais informação »