Germany will reinstate its so-called debt brake in 2023 after suspending it for three years to cope with the impact of the coronavirus pandemic, sources in the finance ministry said Wednesday.
The government will borrow 17.2 billion euros ($18.1 million) next year, adhering to the rule enshrined in the constitution that normally limits Germany’s public deficit to 0.35 percent of overall annual economic output, despite new spending as a result of the war in Ukraine, the sources said.
