Germany to take on 45.6B euros in new debt in 2023

Germany will comply with its constitutional debt brake next year for the first time since 2019, even as it takes on significantly more new debt than laid out in its summer draft, several Bundestag budget committee sources told Reuters.

BERLIN – Germany will comply with its constitutional debt brake next year for the first time since 2019, even as it takes on significantly more new debt than laid out in its summer draft, several Bundestag budget committee sources told Reuters on Friday.

The budget foresees 45.61 billion euros in new debt next year, more than double the 17.2 billion euros planned in the government’s summer draft.Total budget spending is planned at around 476.3 billion euros. The Bundestag is set to approve the budget on Nov. 25. Germany suspended its constitutionally enshrined deficit limit of 0.35 percent of gross domestic product during the COVID-19 pandemic.

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