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Denmark raises domestic financing needs for 2020

COPENHAGEN (Reuters) - Denmark has raised its 2020 domestic financing needs to 248 billion Danish crowns ($39.68 billion) from a May forecast of 178 billion, the Finance Ministry said on Sunday.

The increase reflects tax and VAT payment extensions and payment of Danes’ own holiday allowance in order to boost the coronavirus-hit economy.

Domestic financing needs for 2021 were set at minus 65 billion crowns, the ministry said.

Reporting by Jacob Gronholt-Pedersen; Editing by Andrew Heavens

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