BERLIN (Reuters) -Germany's budget committee finalised the budget for 2025 with record investments to revive the economy and a strong commitment to defence spending, people familiar with the matter
Germany's Budget Committee Approves Record Investment for 2025
By Maria Martinez
BERLIN (Reuters) -Germany's budget committee finalised the budget for 2025 with record investments to revive the economy and a strong commitment to defence spending, people familiar with the matter said on Thursday.
The budget, with total spending of 502.5 billion euros ($588.28 billion), includes 62.7 billion euros ($147.71 billion) in investments, according to a document seen by Reuters, with only small changes from a draft passed by the cabinet before the summer recess.
The budget committee session that begun on Thursday morning wrapped up weeks of talks by bundling last‑minute amendments and fixing final spending and revenue plans. The budget goes to a full parliamentary vote in the second half of September.
After former chancellor Olaf Scholz's coalition collapsed in November, the last government ran out of time to pass the 2025 budget. Germany has been operating on a provisional budget since the start of the year.
The budget envisages borrowing of 81.7 billion euros in 2025, according to the document.
($1 = 0.8542 euros)
(Reporting by Maria Martinez and Christian Kraemer, editing by Thomas Escritt)
