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Scholz To Address Bundestag Next Week On 2024 Budget


German Chancellor Olaf Scholz releases a video message regarding the 2024 budget following the Constitutional Court ruling regarding the off-budget Green Transition Fund that was ruled unconstitutional, blowing a EUR60bn hold in the federal budget. Scholz: "Most important message is that[the] court decision still allows for emergency exceptions to debt brake...[we are] reworking budget for 2024 swiftly and with necessary care...[we] will work to ensure that all decisions necessary for 2024 budget are taken by parliament [and] gov't this year."

  • Head of the Chancellery Wolfgang Schmidt confirmed during a meeting with the 16 state minister-presidents that Scholz would address the Bundestag next week on the issue.
  • Scholz's comments come after Finance Minister Christian Lindner confirmedon 23 Nov that the 'debt brake' will be suspended in 2023 amid a declaration of a state of emergency.
  • Lindner: "...I will present a supplementary budget for this year next week...We will now put expenditure, particularly for the electricity and gas price brakes, on a constitutionally secure footing...No new debt is being taken on, only the funds already used to overcome the crisis are being placed on a secure legal basis...We can only talk about the year 2024 and the next few years once we have a legally secure, constitutionally secure situation

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