Germany's lower house of parliament approves 2024 budget

Germany's lower house of parliament on Friday approved the 2024 budget, sticking to its self-imposed debt brake. The budget concludes months of tense negotiation over Germany's 2024 spending. Europe's top economy can issue 39 billion euros ($42.43 billion) in new debt, which would be within the government's limit.

Germany's lower house of parliament on Friday approved the 2024 budget, sticking to its self-imposed debt brake.

The budget concludes months of tense negotiation over Germany's 2024 spending. Europe's top economy can issue 39 billion euros ($42.43 billion) in new debt, which would be within the government's limit. The debt brake, enshrined in the German constitution, restricts the public deficit to 0.35% of gross domestic product. ($1 = 0.9191 euros)