Germany's Chancellor Open to Reforming Budget Rules

Germany's Chancellor Open to Reforming Budget Rules

By
Sophie Müller
1 min read

Chancellor Olaf Scholz has indicated his willingness to discuss reforming Germany's budget rules, which currently limit borrowing to a fraction of the country's economic output. These restrictions, known as the debt brake, are considered necessary to prevent over-spending. However, Scholz suggested that there is room to debate whether these rules are still suitable in their present form. The statement comes following his remarks late Monday, highlighting a potential shift in Germany's approach to fiscal policy.

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