Germany to suspend ‘debt brake,’ present revised 2023 budget – DW – 11/23/2023

The German government plans to draw up a supplementary budget for 2023 after a Constitutional Court rulingthrew spending plans into disarray, Finance Minister Christian Lindner said in Berlin on Thursday.

A decision to suspend a so-called debt brake will allow the government to significantly increase new borrowing this year. Lindner intends to present a supplementary budget for the current year next week on Wednesday.

Lindner’s decision follows a ruling by the Constitutional Court, which said a move to redirect €60 billion ($65 billion) of unused debt from the pandemic era to a climate fund was unconstitutional.

This is a breaking news story and it will be updated.

dh/sms (AFP, dpa, Reuters)

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