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German Finance Minister Scholz said Sunday that Germany has "all-out" financial strength to cope with the next economic crisis, suggesting that Berlin can spend up to 50 billion euros ($55.45 billion) in additional expenditures.
With Germany's economy on the verge of recession and its borrowing costs at a record low, Germany is under pressure at home and abroad to abandon its commitment to a balanced budget and increase investment through new debt initiatives.
A senior German government official told Reuters this month that Germany is considering abandoning its long-standing balanced budget policy to help finance costly climate protection programs by issuing new debt.
At the government's Open Day press conference, Schultz acknowledged the debate about debt financing spending, but said the country should live within its means in good economic times, especially because it means it will be able to cope when the situation worsens.
This year, the ratio of German debt to economic output is expected to fall from 60.9% last year to about 58%, below the EU debt ceiling of 60%, bringing greater flexibility to future spending.
"So if Germany's debt-to-economic output ratio is less than 60%, it will be our strength to fight the crisis," Schultz said.


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