German Cabinet Backs Budget With €16.6 Billion in Net New Debt
07/05/2023 18:55
Germany’s ruling coalition approved a 2024 finance plan that slashes net new borrowing to the lowest since before the pandemic and squeezes spending in all government departments except defense.
Germany’s ruling coalition approved a 2024 finance plan that slashes net new borrowing to the lowest since before the pandemic and squeezes spending in all government departments except defense.
The budget is part of Finance Minister Christian Lindner’s push for further consolidation after a constitutional limit on new debt was suspended for three years to help deal with the fallout from the pandemic and the energy crisis.