Learn more

The German parliament or Bundestag finalized its 2024 budget on Friday, agreeing to keep the so-called debt brake and borrow around 39 billion ($42.5 billion). After a delay of several weeks, the hard-fought budget was passed and provides for expenditure of 476.8 billion. If borrowing remains at 39 billion, the debt brake would be adhered to again for the first time since the outbreak of the coronavirus pandemic. Germanys Basic Law aims to limit borrowing but allows for a certain amount of leeway in the event of poor economic expectations. The Bundesrat, or upper house, is expected to give