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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.
Since 2009, Germany has a balanced budget amendment in its Constitution, the so-called "debt brake" (Schuldenbremse in German), which restricts annual structural deficits to 0.35% of GDP. [ 5 ] [ 6 ] [ 7 ] If a natural disaster or extraordinary emergency exists, the debt brake may be temporarily suspended for a budget year by a majority vote in ...
A balanced budget amendment or debt brake is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.
That forced the coalition into a hasty rehash of the 2024 budget, complete with subsidy cuts that prompted protests by farmers. The governing parties squabbled at length about how to put together a 2025 budget before Scholz, Lindner and Vice Chancellor Robert Habeck, from the Greens, presented an agreement in early July.
Germany's quarrelsome government clinches a deal on the 2025 budget 08/16/2024 10:53 -0400 BERLIN (AP) — Germany's quarrelsome governing coalition reached an agreement Friday on details of the country's 2025 budget, weeks after Chancellor Olaf Scholz and top officials clinched an initial deal that then got bogged down in a new dispute ...
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 ...
German gross domestic product (GDP) rose 0.3% in the second quarter of 2012, following a 0.5% increase in the previous quarter, according to data from the Federal Statistics Office. This result ...
Germany will have to work on another supplementary budget to help the state's social security system cushion the effects of the coronavirus pandemic, Chancellor Angela Merkel's chief budget ...