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Despite the slightly reduced borrowing needs at the end of the year, overall 2021 debt issuance will reach a record high of some 482 billion euros, the agency said.
Europe’s largest economy will issue a total of 104 billion euros in debt in the October-December period excluding inflation-linked debt, the agency said.
The finance agency will raise 47 billion euros on capital markets (1 billion less than initially planned) and 57 billion euros on money markets (down 3 billion euros from the previous sum).
Finance Minister Olaf Scholz has asked parliament to suspend the debt brake in the constitution for the second year in a row, allowing net new debt of up to 240 billion euros in 2021 to finance emergency measures in the COVID-19 pandemic.
On top of this comes the refinancing of maturing debt: In the summer quarter alone, more than 100 billion euros of old debt had to be repaid and rolled over into new debt.
