© Reuters. SUBMIT PHOTO: Chancellor Olaf Scholz speaks throughout a hearing at Germany’s lower home of parliament Bundestag following the judgment of Germany’s Constitutional court that the federal government’s re-location of 60 billion euros ($65 billion USD) of unused financial obligation fro
(Reuters) – Exciting news as Germany’s cabinet is set to concur on a supplemental 2023 budget plan this afternoon, a federal government representative shared today.
What’s more, the cabinet has ambitious goals to present a 2024 budget by the end of the year, showing determination and forward-thinking, the representative mentioned. In the event that this timeline is not met, the plan is to agree on a budget in January.
During a routine press briefing in Berlin, the representative revealed that the cabinet’s decision to renew the suspension of the country’s debt brake in 2022 is based on careful and strategic thinking, showing a commitment to responsible financial management.
Chancellor Olaf Scholz’s government had to make difficult decisions after the constitutional court blocked plans to repurpose unused pandemic funds towards green projects and industry subsidies, resulting in significant budget cuts.