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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.
Global map of total central government revenues, as share of GDP, 2022 [1] Global map of total central government expenditures, as share of GDP, 2022 [2]. This is the list of countries by government budget.
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 ...
The debt limits were enacted in 2009 after the government piled up debt paying to rebuild former East Germany after Germany reunified at the end of the Cold War and when tax revenue dropped during ...
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 ...
Balanced-budget amendment proposals often contain an exemption for emergencies such as being in the state of war. It could be envisioned that the Congress would simply declare the country in a perpetual state of war, year after year, just to avoid the necessity of politically costly spending cuts or tax increases. [77]
Germany has long been criticised for insufficient investment in key economic infrastructure - the IMF this year repeated a call for Berlin to create more fiscal room for investing in the country's ...