Germany's 2027 Budget Sees New Borrowing Exceeding €210 Billion, Second Highest Since WWII

The German Budget Committee has finalized the 2027 budget proposal, with new borrowing exceeding €210 billion, marking the second highest level since World War II. The total expenditure of the budget plan reaches €561 billion, having reached consensus after several weeks of negotiations. To facilitate the agreement, planned taxes on plastics and sugary drinks have been canceled or postponed, and plans to cut social security spending have also been shelved or delayed. The budget proposal is now ready for submission to parliament for a vote. Opposition parties accuse the government of attempting to cover up borrowing activities and basic income support expenditures. Data shows that the total new borrowing amounts to €210.4 billion, second only to the record of €215.4 billion during the COVID-19 pandemic in 2021. Under the core budget, new borrowing is approximately €123 billion, not including additional borrowing authorized by special measures passed last year.

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