German bundestag, Governmental body

Berlin, May 21 The budget committee of German Bundestag (lower house of Parliament) has adopted the country's annual budget for 2022, allowing total spending of 496 billion euros ($523.5 billion) and about 140 billion euros in new debt.The German Bundestag on Friday adopted the country's annual budget for 2022, Xinhua news agency reported.The new debt includes a supplementary budget of around 40 billion euros that was submitted at the end of April for "measures directly related to the consequences" of the Russia-Ukraine conflict, according to the Federal Ministry of Finance (BMF).German Chancellor Olaf Scholz announced earlier this year the creation of a special defence fund worth 100 billion euros, stressing that the country would strive to make its annual defence spending reach 2 per cent of the GDP.Due to measures related to the Covid-19 pandemic, Europe's largest economy had already planned to take on new debt of nearly 100 billion euros before the start of the Ukraine crisis.To do so, the country's so-called debt brake, which stipulates that the federal and state budgets must generally be balanced without revenues from borrowing, was temporarily suspended.Finance Minister Christian Lindner strongly supports the restoration of compliance with the debt brake."You have to find the exit from crisis mode," he said last week. (1 euro = $1.06)Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

German BundestagFOLLOW

German bundestag, Latest News

Business :Union Minister discusses circular economy, tackling of single-use plastic, forest management with German delegation

Union Environment Minister Bhupender Yadav on Monday said he discussed the circular economy, tackling of single-use plastic, forest management ... ...

Politics :Germany to rerun part of 2021 election due to glitches

Berlin, Nov 12 Germany's 2021 national election will rerun in parts of Berlin due to electoral glitches, the ... ...

International :German Parliament approves 140 bn euros extra debt in 2022

Berlin, May 21 The budget committee of German Bundestag (lower house of Parliament) has adopted the country's annual ... ...