Germany Committee Approves €561 Billion 2027 Budget

Germany’s budget committee has approved a €560.92 billion federal spending plan for 2027, including €122.97 billion in net borrowing from the core budget. The plan also relies on borrowing through special funds, bringing total new borrowing to €210.4 billion, just below the €215.4 billion recorded in 2021 during the COVID-19 pandemic.

The broader figure includes €57.8 billion from the Infrastructure and Climate Neutrality Special Fund and €29.6 billion from the Bundeswehr Special Fund. It is not a core-budget borrowing total: the core figure excludes borrowing authorised under those special measures.

The committee-approved plan is not yet final. The Bundestag has scheduled its budget debate for November 24-27, with a vote on November 27. The committee considered about 2,000 motions before approving the plan. The Christian Democratic Union and Social Democrats backed it in committee, while the Alternative for Germany, Greens and Left opposed it.

The Defense Ministry is allocated €109.75 billion, up from €82.7 billion in the 2026 budget. The plan includes €84.55 billion for defense and specified security spending outside the constitutional debt-brake calculation; another €38.43...