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Germany's balanced budget amendment, also referred to as the debt brake (German: Schuldenbremse), is a fiscal rule enacted in 2009 by the First Merkel cabinet.The law, which is in Article 109, paragraph 3 and Article 115 of the Basic Law, Germany's constitution, is designed to restrict structural budget deficits at the federal level and limit the issuance of government debt.
The federal budget for 2021 is €369.3 billion. [11] With total government spending of €1.76 trillion in 2021, the federal budget comprises only a fraction of total public sector spending in Germany. [12] Germany's budget for the 2005 fiscal year can be found below, which also outlines the basic budget structure.
2024 Saxony state election: The CDU wins a plurality in elections for the Landtag of Saxony. The AfD finishes a close second. [100] 2024 Thuringian state election: The AfD wins a plurality (32%) in elections for the Landtag of Thuringia, marking the first time that a far-right party won a state election in Germany since World War II. [100]
Germany's governing coalition reached a deal Wednesday to resolve a budget crisis triggered by a court ruling last month, agreeing to cut some subsidies and spending while stressing that Berlin ...
Germany's intensifying budget crisis is hitting Europe's top economy where it hurts most: its reputation as a reliable partner for industry, some of which now fears that Berlin may not stand by ...
Leaders of Scholz's three-party coalition have been wrangling over money since Germany's highest court annulled a decision to repurpose 60 billion euros ($65 billion) originally meant to cushion ...
The cohesion policy accounts for almost one third of the EU's budget, equivalent to almost EUR 352 billion over seven years in 2014-2020, [22] and EUR 392 billion in 2021-2027, [1] dedicated to the promotion of economic development and job creation, and for helping communities and nations get ready for the European Union's transition to a more ...
BERLIN/FRANKFURT (Reuters) -German Chancellor Olaf Scholz said on Saturday he was confident that tough talks with coalition partners to fix the country's 2024 budget following a landmark court ...