The German government will have to borrow up to 180 billion euros next year to soften the blow of the corona crisis for the economy.

With that, the debt figures are rising sharply, insiders tell

Bloomberg

news agency

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The new debt figure is almost twice as high as the EUR 96 billion originally estimated.

The Bundestag's budget committee is still negotiating the amounts, the sources said.

The extra money is needed, among other things, to finance aid to companies.

This arrangement was recently extended until December 20.

This week, policymakers are still finishing the i's when it comes to the financing plan.

German Finance Minister Olaf Scholz has repeatedly said that the government would be generous in spending to limit the impact of the crisis on Europe's largest economy.

The fact that Germany has applied strict budgetary discipline in recent years, he says, puts the country in a strong position to act now.

The minister previously acknowledged that Germany had to borrow more

Scholz had previously acknowledged that Germany should borrow more money next year.

He also said that the bill this year will not be as high as the 218 billion euros that was budgeted.

In Germany, businesses such as restaurants and bars can get 75 percent of last year's revenues this month as compensation for lost earnings.

That is expected to cost Berlin around 14 billion euros.

The fact that the scheme has been extended until December, will cost the government an additional 20 billion euros in costs.

German Chancellor Angela Merkel said on Wednesday that government aid for companies is unlikely to last all winter.

The German government, on the other hand, takes into account that the measures against the corona virus will remain in force until March.