German Bundestag approves supplementary budget for 2024
Berlin, December 2, 2024 – The German Bundestag has approved a supplementary budget for the year 2024 in the amount of 60 billion euros. The funds are intended to finance additional measures in the areas of climate protection, energy security, and defense.
The largest share of the additional funds, 25 billion euros, will be used to accelerate the expansion of renewable energies and to promote energy efficiency measures. Another 15 billion euros will be invested in strengthening the Bundeswehr. The remaining 20 billion euros will be used for various other purposes, including measures to combat the corona pandemic and to support the economy.
The supplementary budget was approved by a large majority in the Bundestag. The governing coalition of the Social Democrats (SPD), the Greens, and the Free Democrats (FDP) voted in favor of the budget, as did the opposition parties the Christian Democrats (CDU) and the Left Party (Die Linke). The right-wing populist Alternative for Germany (AfD) voted against the budget.
The approval of the supplementary budget is a sign that the German government is taking the current challenges seriously and is willing to invest in the future of the country. The additional funds will help to mitigate the effects of the energy crisis, to strengthen the Bundeswehr, and to promote climate protection.
Background:
The German government had already announced in September 2024 that it would submit a supplementary budget to the Bundestag. The reason for this was the sharp rise in energy prices as a result of the Ukraine war. The government wanted to use the additional funds to cushion the effects of the price increases for consumers and businesses and to invest in measures to reduce Germany’s dependence on Russian gas.
The supplementary budget is now the second budget that the Bundestag has approved for the year 2024. The regular budget had been passed in November 2023 and provided for expenditures of 496 billion euros. With the approval of the supplementary budget, the total expenditure for 2024 now amounts to 556 billion euros.
Reactions:
The approval of the supplementary budget has been welcomed by many politicians and economists. The President of the Bundestag, Bärbel Bas (SPD), said that the budget was a “strong signal” that the German government was taking the challenges of the time seriously. The Federal Minister of Finance, Christian Lindner (FDP), said that the budget was “a good investment in the future of our country.”
However, there has also been some criticism of the supplementary budget. The opposition party AfD has accused the government of wasting taxpayers’ money. The Left Party has criticized the fact that the budget does not provide for sufficient measures to combat social inequality.
Outlook:
The approval of the supplementary budget is an important step in the German government’s efforts to address the current challenges. The additional funds will help to mitigate the effects of the energy crisis, to strengthen the Bundeswehr, and to promote climate protection. However, it remains to be seen whether the government will be able to use the funds effectively and efficiently.
Haushaltsführung 2024: Überplanmäßige Ausgabe genehmigt
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