https://sputnikglobe.com/20231204/german-economy-minister-will-not-attend-cop28-due-to-budget-crisis---reports-1115366042.html
German Economy Minister Will Not Attend COP28 Due to Budget Crisis – Reports
German Economy Minister Will Not Attend COP28 Due to Budget Crisis – Reports
Sputnik International
German Economy Minister Robert Habeck will not attend the COP28 in Dubai at the request of Chancellor Olaf Scholz due to the budgetary crisis in the country, reported Bild.
2023-12-04T04:04+0000
2023-12-04T04:04+0000
2023-12-04T04:05+0000
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Scholz’s request is related to the need to continue negotiations on the draft budget for 2024, which have become more complicated due to the current budgetary crisis, the report added. The Constitutional Court of Germany ruled earlier in the month that the move by the Social Democrats, the Greens and the Free Democrats — known as the "traffic light" coalition — to transfer unused pandemic-era loans to a climate fund would violate the debt brake rule, which is a constitutionally enshrined cap on new government borrowing.As a result, 60 billion euros ($65 billion) were wiped from the government's spending plan for 2024. Last week, the German Finance Ministry said that the government approved the 2023 supplementary budget to fight the budgetary crisis that occurred in the country due to the court's decision to cut 60 billion euros from the spending plan.Germany's climate transformation fund had 211 billion euros earmarked for the development of hydrogen and semiconductor technologies, insulation of buildings in order to save energy, and decarbonization of industry. Berlin planned to spend 58 billion euros from that fund, as well as 54 billion euros from the state budget on laying fiber optic lines and upgrading railways and road infrastructure.
https://sputnikglobe.com/20231125/germany-to-stop-curbing-gas-electricity-prices-in-2024---finance-minister-1115197920.html
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german economy minister robert habeck, chancellor olaf scholz, dubai cop28, german budget crisis, german financial crisis
german economy minister robert habeck, chancellor olaf scholz, dubai cop28, german budget crisis, german financial crisis
German Economy Minister Will Not Attend COP28 Due to Budget Crisis – Reports
04:04 GMT 04.12.2023 (Updated: 04:05 GMT 04.12.2023) MOSCOW (Sputnik) - German Economy Minister Robert Habeck will not attend on December 4 the UN Climate Change Conference (COP28) in Dubai at the request of Chancellor Olaf Scholz due to the budgetary crisis in the country, German newspaper Bild reported on Sunday.
Scholz’s request is related to the need to continue negotiations on the draft budget for 2024, which have become more complicated due to the current budgetary crisis, the report added.
The Constitutional Court of Germany
ruled earlier in the month that the move by the Social Democrats, the Greens and the Free Democrats — known as the "traffic light" coalition — to transfer unused pandemic-era loans to a climate fund would violate the debt brake rule, which is a constitutionally enshrined cap on new government borrowing.
As a result, 60 billion euros ($65 billion) were wiped from the government's spending plan for 2024. Last week, the German Finance Ministry said that the government approved the 2023
supplementary budget to fight the budgetary crisis that occurred in the country due to the court's decision to cut 60 billion euros from the spending plan.
25 November 2023, 02:45 GMT
Germany's climate transformation fund had 211 billion euros earmarked for the development of hydrogen and semiconductor technologies, insulation of buildings in order to save energy, and decarbonization of industry. Berlin planned to spend 58 billion euros from that fund, as well as 54 billion euros from the state budget on laying fiber optic lines and upgrading railways and road infrastructure.
