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Germany’s Annual Borrowing Set to Hit €45 Billion Next Year

  • Net borrowing next year to remain within constitutional limit
  • Government has created off-budget vehicles to fund spending
Residential apartment buildings lit at night near Alexanderplatz in Berlin, Germany. Some €200 billion has been earmarked to ease electricity costs and support struggling power suppliers.

Residential apartment buildings lit at night near Alexanderplatz in Berlin, Germany. Some €200 billion has been earmarked to ease electricity costs and support struggling power suppliers.

Photographer: Omer Messinger/Getty Images

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Germany’s ruling coalition is planning to more than double net federal borrowing next year to help ease the impact of the energy crisis and steer Europe’s largest economy through an expected recession.

The government is targeting net borrowing of €45 billion ($45 billion) in 2023, according to people familiar with the plan, who asked not to be identified discussing confidential information. That compares with a figure of €17.2 billion published in July.