Germany (bbabo.net), - Russian billionaire Oleg Deripaska believes that due to the energy crisis and record energy prices, Germany has gone to the wall. This is how he commented on Berlin’s plans to lift the limit on borrowing.
“The jump in the costs of German business and ordinary Germans for electricity and gas puts the once flourishing main European economy on the fence with an outstretched hand, and deficits, subsidies and the issue of debt securities will definitely not lead to any good,” Oleg Deripaska wrote in his telegram channel.
The billionaire made his comment on the news that the German government will temporarily suspend restrictions on new borrowing (no more than 0.35% of GDP), as Berlin has to urgently revise the budget.
Next week, Finance Minister Christian Lindner will report on a new off-budget debt of 40.3 billion euros for gas and electricity subsidies for households and businesses.
Last year, Berlin decided to allocate 200 billion euros to combat the energy crisis: fix gas prices and support traders, industry and the population. However, there are no such free funds. Therefore, one of the options was the issue of government bonds.
In July, Economy Minister Robert Habeck said the government would continue to take on debt to subsidize German industry and keep it competitive. Germany faces five difficult years of transition to a green industry, which will take a toll on people, the minister said.
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