Germany’s budget committee has finalised the budget for 2025 with record investments to revive the economy and a strong commitment to defence spending.
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, with only small changes from a draft passed by the cabinet before the summer recess.
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.
Reuters/Hauwa M.