Germany's coalition government agrees on 2024 budget
Chancellor Olaf Scholz's three-party governing coalition has struck a deal on spending for 2024. It comes after a court ruling threw the government's finances into disarray and exposed deep rifts between the parties. Germany is estimated to face a funding gap of around €17 billion in a federal budget of around €450 billion for 2024 Germany's ruling center-left coalition has managed to strike a political deal on the federal budget for 2024, government sources said on Wednesday. The agreement comes after a court ruling threw government finances into disarray and exposed deep rifts between the three governing parties. What caused the budget gap? Germany's constitutional court ruled on November 15 that the coalition government's decision to reallocate €60 billion ($64.69 billion) of unused debt from the COV ID-19 pandemic era to its climate and transformation fund was unconstitutional. The ruling limited the government's ability to set up and ...