The German government has approved the draft budget for 2025, which had been under debate for many months.
This was reported by Spiegel.
The German federal government has approved the draft budget for 2025, accompanied by measures to stimulate the economy, and is submitting it to the Bundestag.
The planned expenditures amount to 480.6 billion euros, subject to the maximum spending threshold (the so-called “debt brake”). However, new debts of more than 94 billion euros are still planned for 2024-2025. New borrowings in 2025 will amount to €43.8 billion.
The Bundestag will start considering the draft in September and is expected to approve the supplementary budget for 2024 on November 8, and the budget for 2025 on November 29. They may be amended until then.
Author - Olena Madiak, 17/07/2024