Germany news: Parliament agrees on debt-laden 2027 budget
The budget committee in the Bundestag worked into the night to sign off on next year's spending plans. These include levels of new debt only eclipsed once, at the height of the COVID pandemic. DW has more.
On Friday, November 13, Germany's Bundestag parliament reached an agreement on the country's 2027 budget, despite the committee members laboring for over 15 hours to finalize the details. The new budget outlines spending plans that include approximately €210 billion in new debt, representing the second-highest level of borrowing in post-war German history.
This debt level is comparable to the peak of the COVID-19 pandemic in 2021, when new debt amounted to €215.4 billion. The remaining €400 billion in spending plans are covered by taxes. The finalized budget, which incorporates additional debt from special funds for infrastructure and military modernization, does not face significant complications and will take effect without major alterations.
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