Germany to adopt supplementary budget for more climate funds on Monday – FinMin

Steam rises from the Niederaussem lignite-fired power station in Niederaussem, Germany, January 16, 2020. REUTERS / Wolfgang Rattay

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BERLIN, December 10 (Reuters) – Germany’s new coalition government will pass a supplementary budget on Monday that will see € 60 billion ($ 68 billion) in unused debt from this year’s federal budget funneled into a climate and climate fund. transformation, said the finance minister.

“I handed over the draft supplementary budget to cabinet today,” Christian Lindner said on Friday, confirming a Reuters report.

The coalition wants to deploy the funds to make essential public investments in climate protection measures – from charging points for electric vehicles to better insulation of homes – and the digitization of Europe’s largest economy.

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The debt-financed injection means Berlin is likely to almost fully utilize the € 240 billion debt ceiling initially granted by its parliament for 2021.

Germany will exceed its credit limit of 207 billion euros ($ 234 billion) in 2021, forcing parliament to renew its approval to suspend the debt brake, a draft document viewed by Reuters showed on Friday.

($ 1 = 0.8866 euros)

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Reporting by Christian Krämer and Holger Hansen; Written by Maria Sheahan, Kirsti Knolle, edited by Miranda Murray and Maria Sheahan

Our standards: Thomson Reuters Trust Principles.

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