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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 ... Balanced-budget provisions have been added to the constitutions of Germany, Hong ...
German Chancellor Angela Merkel said on Tuesday her government was sticking to its balanced budget policy, tempering expectations for fiscal stimulus in Europe's largest economy. "As a federal ...
The budget debate is ironic because Germany has the smallest long-term debt pile of any of the Group of Seven advanced democracies, with debt of 66% of gross domestic product. That compares to 102 ...
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 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. That included higher spending on defense and affordable housing, along with a stimulus package for the country's economy, Europe's biggest.
In 2009 articles 109, 115 and 143 of Germany's constitution were amended to introduce the Schuldenbremse ("debt brake"), a balanced budget provision. [3] The reform will come into effect in 2016 for the state and 2020 for the regions.