On Monday, the German government announced the approval of € 60 billion (about US $68 billion ) to be used to combat climate change and modernize the country.
In a statement, German Finance Minister Christian Lindner said that "€ 60 billion for investment in the future is a boost to the economy," which is still recovering from the repercussions Corona pandemic.
Lindner noted that "new borrowing this year will remain at € 240.2 billion, which was planned by the previous government.
"There is no new debt. We are only using the as yet unused credit mandate to raise additional funding," Lindner added.
THE German minister ruled out tax increases, along with the pro-business Liberal Democrats, and insisted on continuing to observe rules limiting new debt in the future which had been suspended during the pandemic
It should be noted that the supplementary budget approved by the Cabinet headed by the newly-appointed Chancellor Olaf Scholz, entails placing the money in a government fund to be renamed the "Climate and Transition Fund", which will be used to finance projects aimed at combating climate change and improving infrastructure in Germany.
On the other hand, German Foreign Minister Annalina Birbock clarified the statements she made yesterday, in which she indicated the impossibility of adopting the Russian gas pipeline "Nord Stream-2" in the European Union.
In response to a question about her statements about "Nord Stream-2" that was raised before the meeting of European Union foreign ministers, the minister said that the German Federal Network Agency has suspended the project approval, due to the presence of clear requirements for European energy law, and the agency spoke about this a few days ago.
Earlier, the minister indicated that it is impossible to agree to the adoption of "Nord Stream-2" in the current circumstances.
She indicated that the new ruling coalition in Germany agreed that gas projects, such as the Russian "Nord Stream-2", must comply with European legislation.
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