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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.
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 ...
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]
West Germany was a founding member of the European Community in 1958, which became the EU in 1993. Germany is part of the Schengen Area, and has been a member of the eurozone since 1999. It is a member of the United Nations, NATO, the G7, the G20 and the OECD. The Economist Intelligence Unit rated Germany a "full democracy" in 2022.
Landtag (state parliament) of the state of Baden-Württemberg. The Basic Law for the Federal Republic of Germany divides authority between the federal government and the states (German: "Länder"), with the general principle governing relations articulated in Article 30: "Except as otherwise provided or permitted by this Basic Law, the exercise of state powers and the discharge of state ...
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