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German 2022 budget plans 100 billion in new borrowing

by Mike Robinson

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© Reuters. FILE PHOTO A view of Berlin’s Reichstag Building before the election for a new chancellor. Berlin, Germany. December 8, 2021. REUTERS/Michele Tantussi

BERLIN, (Reuters) – Germany’s 2022 budget proposal is only a little over 100 billion euro (dollars). This, according to a source familiar with the planning. It will not surpass the limit Finance Minister Christian Lindner previously set.

The special fund of 100 billion euros for Germany’s armed forces would be funded through borrowing. This was originally announced by Olaf Scholz, Chancellor, in reaction to Russia’s invasion.

Germany’s cabinet will discuss the 2022 budget draft next Wednesday. It will also consider mid-term financial planning up to 2026, and the special fund for the Armed Forces.

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