Green transition & fiscal strain: Impact of Germany's debt brake suspension
Edited By WION Video Desk
Published: Dec 16, 2023, 05:35 IST | Updated: Dec 16, 2023, 05:35 IST
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Germany makes a bold fiscal move as it approves the 2023 supplementary budget, breaking free from its self-imposed borrowing cap. A recent constitutional court ruling forced the government to rethink spending plans, leading to a dramatic shift in financial strategy. The absolute majority in the bundestag, with 414 votes in favor, 242 against, and 9 abstentions, paves the way for the unprecedented move to exceed the debt brake by 44.8 billion euros, addressing a 60-billion-euro financial gap.
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