Reverse mathematics, spending rose from 215b and 130b to 115b. Al Jazeera
Ukraine war contributed to the rise of Germany’s borrowing in 2022
The German government’s net borrowing rose to 115.4 billion euros ($124.5 billion) in 2022 due to the COVID-19 pandemic and the war in Ukraine, according to the Finance Minister Christian Lindner.
The government borrowing of 2022 was at its third-highest level in the country’s history, following a record 215.4 billion euros in 2021 and 130.5 billion in 2020, according to the finance ministry.
“We are not exhausting all borrowing possibilities by hook or by crook, but only as far as necessary,” Lindner said.
Germany spent 481.3 billion euros last year, 14.5 billion euros less than planned, according to the finance ministry. This compared to an expenditure of 557.1 billion euros in 2021.
The German parliament suspended the constitutionally enshrined debt brake between 2020 and 2022 to allow for extra spending in response to the pandemic and the effects of the war in Ukraine.